You just want to avoid people parading through your home
OUR PRIMARY FOCUS IS ON DISTRESSED SINGLE OR MULTI-FAMILY PROPERTY INCLUDING CONDOS, TOWNHOUSES AND EVEN OVER 55 cOMMUNITIES THAT ARE IN NEED OF REHABILITATION. THESE PROPERTIES ARE OFTEN REFERRED TO AS FLIPS OR A FLIP PROPERTY. BY CONTACTING US DIRECTLY WE CAN ELIMINATE MANY 3RD PARTIES INCLUDING BROKERS THAT TAKE CONSIDERABLE PROFIT OUT OF THE DEAL OR PUT THE SELLER TOO FAR UPSIDE DOWN FOR THE BANK TO ALLOW A SHORT SALE.
WHAT'S A SHORT SALE?
SELLING A HOME FOR LESS THAN THE AMOUNT THE CURRENT OWNER OWES THE MORTGAGE COMPANY IS CALLED A SHORT SALE.
BUYING A HOME THAT IS A SHORT SALE IS DIFFERENT FROM BUYING A PROPERTY THAT IS ACTUALLY OWNED BY THE BANK, KNOWN AS AN REO, OR REAL-ESTATE OWNED PROPERTY, OR A PROPERTY THAT IS IN FORECLOSURE.
A SHORT SALE CAN HELP THE SELLER AVOID HAVING A FULL FORECLOSURE ON HIS OR HER CREDIT RECORD. ALTHOUGH A SHORT SALE AND A FORECLOSURE NEGATIVELY AFFECT A SELLER'S CREDIT SCORE, IN A SHORT SALE THE DAMAGE CAN BE MINIMIZED IF THE HOMEOWNER CAN PERSUADE THE LENDER TO REPORT THE DEBT TO CREDIT BUREAUS AS "PAID IN FULL." IN A SHORT SALE, THE PROCEEDS FROM THE TRANSACTION ARE LESS THAN THE AMOUNT THE SELLER NEEDS TO PAY THE MORTGAGE DEBT AND THE COSTS OF SELLING. FOR THIS DEAL TO CLOSE, EVERYONE WHO IS OWED MONEY MUST AGREE TO TAKE LESS -- OR POSSIBLY NO MONEY AT ALL.
A RECENTLY ANNOUNCED EXTENSION OF THE GOVERNMENT'S HOUSING RESCUE PLAN COULD MAKE IT EASIER TO BUY SHORT-SALE PROPERTIES. THE NEW VERSION OF THE MAKING HOME AFFORDABLE PLAN WILL PAY LENDERS UP TO $1,000 IF THEY ALLOW A SHORT SALE OF A PROPERTY WHEN THE OWNERS DON'T QUALIFY FOR LOAN MODIFICATION BECAUSE THEY OWE TOO MUCH MONEY ON THE HOME. THE PROGRAM WILL SPELL OUT A SHORT-SALE PROCESS AND PROVIDE STANDARD DOCUMENTS, THE U.S. TREASURY SAYS.
THESE DEALS CAN BE COMPLICATED, LET GORDY'S ASSIST YOU WITH THIS TRANSACTION