“IMPORTANT NOTICE SUPREME TITLE CLOSINGS, LLC is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.  If you stop paying your mortgage, you could lose your home and damage your credit rating.”

A Short Sale Defined

A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Recent changes in corporate policy and the Obama administration have also improved the chances of getting a short sale approved.

But to be technical, here's a more official definition:

•  A homeowner is 'short' when the amount owed on his/her property is higher than current market value.
•  A short sale occurs when a negotiation is entered into with the homeowner's mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer closes on the property, and the property is then 'sold short' of the total value of the mortgage.
 

For homeowners to qualify for a short sale, they must fall into any or all of the following circumstances:

•  Financial Hardship – There is a situation causing you to have trouble affording your mortgage.
•  Monthly Income Shortfall – In other words: "You have more month than money." A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
•  Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.
 

This seems simple enough, but it is a complicated process that takes the expertise of experienced professionals. I hold the CDPE® Designation and am ready to identify all possible options and, when possible, assist in the quick execution of a short sale transaction.

If you have questions or feel you may qualify for a short sale, please contact me for a free consultation.

Understanding your options now could mean all the difference in the world.....

Understanding Your Short Sale Alternatives

1. Reinstatement
2. Forbearance or Repayment Plan
3. Mortgage Modification
4. Rent the Property
5. Deed in Lieu of Foreclosure
6. Bankruptcy
7. Refinance
8. Servicemembers Civil Relief Act (military personnel only)
9. Sell the Property
10. Short Sale

This represents only a summary of some of the solutions available to homeowners facing foreclosure.  For more information on the above choices:  http://hosted.cdpe.com/2TracysHelp/Foreclosure-Solutions.aspx 

Our Free Resource Site:  http://hosted.cdpe.com/2TracysHelp/Resources.aspx

HAFA Video

Government Programs:  http://hosted.cdpe.com/2TracysHelp/Eligibility.aspx

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Why Supreme Title for Your Short Sale Needs 

Let's not kid ourselves, we are all facing a troubled market - and there are no guarantees.   But take advantage of our expertise in the mortgage, banking, real estate and closing industries - and allow us to manage the bank communication of  the short sale for you (in it's entirety)!  We have a team in place of licensed mortgage brokers and a real estate agent that is CDPE certified, that can deal with putting together an attractive short sale case for the existing lender to consider.  Dedicated to timely resolution, we'll manage the client interaction with their lender and yourselves.  We'll do everything in our power to help avoid a foreclosure.

As realtors - you can focus on the task at hand - selling the property your client has hired you for and we will manage the daunting task of interaction and negotiation with the loss mitigator.

More information from Our CDPE website:  http://hosted.cdpe.com/2TracysHelp

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How to Get Started

Send us your listing agreement, and the signed Supreme Title Short Sale Agreement document - and we'll take it from there.  We prefer to meet with your clients in our office, and we find it more beneficial for you to join us for this initial meeting. 

We'll explain the entire process to your client, provide them with a list of documents we'll need them to gather, and work with them to insure all are delivered timely - while you show the property and negotiate a sales contract.  Once we have all documents and the contract in place - we'll be able to submit a full package to the lender for their review. 

We will not expect part of your commissions as fee for our services - we will handle our compensation directly with the lender.

And we endeavor to keep all parties involved in the transaction informed throughout the process!

EMAIL all pertinent documents and requests to:  ress.shortsale@cfl.rr.com.

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