Homeowners
CAN YOU ASK YOURSELF THESE QUESTIONS ?
- Do you owe more for your home than what the current market value is?
- Are you currently in a foreclosure lawsuit or are you trying to avoid the future foreclosure of your home?
- Are you experiencing problems trying to pay your mortgage?
- Are you currently in default and are receiving notices and calls from your lender?
- Do you want to remove yourself from this terrible situation and have the best possible solution for you and your credit rating?
- If you answered yes to many of these questions, it is very possible that we can help you.
WHAT IS A SHORT SALE ?
- A short sale is an approval process through which your mortgage company agrees to settle for less (short payoff of mortgage) than what is owed to them on your mortgage when your home is sold.
- The bank does not want to own your home! They do this as an alternative to the expensive and time consuming process of foreclosure.
- We help your lender evaluate why it is not in their best interest to take your home in foreclosure. Each lender has their own set of parameters through which they decide whether or not to accept a particular short sale. All Short Sales do have many similarities but each has its own unique characteristics and requirements for approval.
- With new government legislation, lenders are encouraged to favor a short sale rather than pursue foreclosure. It is often more advantageous and cost effective for the lender to approve a short sale.
WHAT ARE THE BENEFITS OF A SHORT SALE?
- If you complete a short sale you escape the foreclosure and it’s extremely negative effects.
- In the case of a principle residence, a Short Sale will likely result in the mortgage debt being forgiven and you will not be taxed on it as a gain by the IRS with just a few caveats. The Mortgage Debt Forgiveness Act of 2007 gave homeowners that very gift. What would normally be counted as income on a 1099 due to a short sale on a principle residence can be forgiven under certain circumstances. Please reference The Mortgage Debt Forgiveness Act of 2007 link to the IRS website for details. This is all the more reason a short sale should be given serious consideration.
- A foreclosure on the other hand, will almost certainly have the consequences of the remaining mortgage debt (the difference between the mortgage amount and the sale price of the property from the bank) plus all legal expenses being placed as a deficiency judgement by the courts against you. This is the worst case scenario.
- After a Short Sale, in just a few short years you will be eligible to borrow and again own a home. With a foreclosure this is not so.
WHY WORK WITH TWO DADS REAL ESTATE ?
- We have the experience and many satisfied customers. We currently have almost $25 million in Short Sales negotiations (growing daily) underway.
- Throughout the Short Sale process you will be kept informed of our progress.
- Two Dads Real Estate will work tenaciously on your behalf with absolutely no expense to you. Our compensation is entirely dependent on how we do our job and is only received when the sale of your home is final.
Two Dads Real Estate LLC. has at it’s disposal, the best negotiators and state of the art CRM software and business systems available. These resources, along with our extreme dedication to our clients, enables successful short sale negotiation and service that is second to none
We pride ourselves on being totally commited to you with the honesty, integrity and professionalism that you deserve. Two Dads Real Estate LLC. is dedicated to meeting the highest professional and ethical standards while providing our clients with zealous and attentive service. You get all of this absolutely free when you entrust your short sale to us.
