Options, Advantages and Expertise With Us You Have… Options, Advantages and Expertise Options to avoid foreclosure Advantages of having an in-house team of short sale specialists The expertise of an in-house bank negotiator

FREQUENTLY ASKED QUESTIONS What Is A Short Sale? A short sale is a good option for someone that owes more on a home than it’s valued for. The banks will work with homeowners allowing the sale of their homes for less than the full mortgage amount.

Is a Short Sale Right For Me? When you cant afford your mortgage payment you need to ask yourself these 3 questions. Can I afford to rent my property for less than my mortgage and incur the loss of paying a property management fee, maintenance fee and more? Can I afford to stay in my home with the current mortgage payment? Do I want to allow the bank to foreclose and take a large hit on my credit? If the answer is no to all of these then a short sale is right for you

What is Considered a Hardship? How Do I Get Started? You will need to complete a short sale package which helps us understand your circumstances and the hardships this has created. What is Considered a Hardship? Hardships include divorce, separation, job relocation, job loss, significant income loss, medical bills, family illness or injury, mortgage adjustments or an unforeseen increase in living expenses.

I am Current on My Mortgage, Would My Lender Consider a Short Sale? Lenders may consider a short sale without missing a payment. The best way to determine this is to complete the short sale package back to us immediately so that our negotiator can find out for you. Do Lenders Approve All Short Sales? No, however the Chantel Ray Short Sale Team has an exceptional approval rate average of 96%.

Why Would a Lender Agree to a Short Sale? It saves them money! With forecloses, they pay attorney’s fees, maintenance fees, court fees, taxes , insurance and more. If they agree to a short sale they avoid all the fees associated with a foreclosure. I Have Two Loans Can I Do a Short Sale? Yes! We work with both lenders to put together a Short Sale transaction every day!

Will I Have a Tax Liability? We suggest that you consult your tax advisor to see if you will incur any tax liabilities as a result of a short sale. My Loan Is In Foreclosure Can I Still Short Sale? Yes! We have stopped foreclosure proceedings with only 2 days left! You just need to return the short sale package to us immediately so we can help.

How Long Is The Short Sale Process? We have had the process to be as short as 3 weeks and as long as over a year. The average is about 3 months from the time we receive a ratified contract on a property. What Is a Deed In Lieu? This is a voluntary foreclosure. You are just saving the bank the time and money it takes to get an attorney and courts involved and foreclose on your home. This still shows up similar to a foreclosure on your credit report.

If I Have Multiple Offers On My Property Which Should I Accept? If I Have an Offer on My Property Should I Still Continue To Take More and Continue To Show My Property? Yes! It’s always best to have back up offers in case the first offer doesn’t go through. If I Have Multiple Offers On My Property Which Should I Accept? You DON’T always want to choose the highest offer! You select the offer that has the best commitment. Short Sales take longer than traditional sales and the buyer that agrees to stay in the game the longest is your BEST offer.

Does The Short Sale Negotiator Charge A Fee? We can usually negotiate with the bank to pay this fee. If not, we will take care of the cost. The only thing that could be your responsibility is a $395 transaction fee if the bank will not pay this. If I do a Short Sale how much will I pay in closing cost? The current lender pays virtually all sales costs, including commissions, escrow and title fees. You may still be responsible for repair and delinquent association fees.

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