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For owners who can no longer afford to keep mortgage payments current, there are alternatives to bankruptcy or foreclosure proceedings. One of those options is called a "short sale." When lenders agree to do a short sale in real estate, it means the lender is accepting less than the total amount due. In most cases the lender agrees to write off the difference.

If you have decided the best thing to do is avoid foreclosure or reverse an order to foreclose and speak with us or a broker to sell your house as a short sale. Your primary advantage here is avoiding a foreclosure and further imparing on your credit history and being able to move on in a clean manner. It is important to understand that you need cooperate with us, the broker and your bank so the process will run smoothly. You also need to be ready to pack up and move prior to a buyer closing on the property.

We Assist Sellers in

· Preparing the paperwork necessary to begin the Short Sale

· Negotiating with your Bank(s)

· Closing with Bank(s) fast

· Directing you to people who can help you repair your credit

Negotiating With Your Banks:

ForeclosureCash has a team of professionals that handle all facets of short sale process. First we will assist you in getting a full short sale package filled out and all supporting documentation gathered for submission to banks. We insure the entire Document Checklist with your signed Authorization is submitted to the Bank.

Most Short Sale Companies outsource services such as “Legal”, “Appraisal” and “Mortgage”. We have all of those services in our Company. Our team of Lawyers, Appraisers and Mortgage Consultants are the Best in the real estate industry and have successfully assisted thousands of sellers short sale their houses.

Obtaining Cash Buyer:

ForeclosureCash works with cash buyers that will assess value and quickly enter into a contract to purchase your home. All cash buyers provide proof of funds for cash purchase to banks and close immediately upon bank clearance.

Assisting in the Closing:

ForeclosureCash coordinates the final payoffs with all Banks and insures you owe no money and can move on in a clean manner. ForeclosureCash will coordinate the closing and obtain all legal, title and lien searches in order to assist with a smooth closing.

Reparing Credit:

ForeclosureCash works with credit repair firms and will direct you to one that can help work on repairing your credit. These firms challenge your creditors with their knowledge and experience of consumer credit laws and in many cases are successful in removing negative items.

How it works:

• Fill out the form if you are ready to sell your home in a Short Sale
• You must be ready to cooperate with us and your lender
• Our team negotiates directly with the banks to buy your property
• Bank agrees to a price
• We buy for cash
• You walk away with no further credit deterioration




Seller Name (required):
First:
Last:

Contact Info:
Phone#:
Email Address (required):

Property Information:
State:
County:
Town:
Type of sale:
Description
(if other):

Estimated Value of Property now:

1st Mortgage
Bank name:

Balance owed:

Payment Status:

2nd Mortgage Bank name: (if applicable)

Balance owed:

Payment Status:

3rd Mortgage
Bank name: (if applicable)

Balance owed:

Payment Status:

Total of Mortgage due (dollars):

Your Total monthly payments (dollars):

Comments: (anything else you think we should know)


What is a Foreclosure:

Foreclosure involves a lawsuit in which a bank, mortgage company, or other lien holder seeks to take an owner's property to satisfy a debt. The bank or lender may actually take ownership of the property or have the property sold to pay off the debt. As a result of the foreclosure, the owner loses whatever rights he or she had in the property.
What is a Short Sale:

A short sale typically is executed to prevent a home foreclosure . Often a bank will choose to allow a short sale if they believe that it will result in a smaller financial loss than foreclosing. For the home owner, the advantages include avoidance of having a foreclosure on their credit history and the partial control of the monetary deficiency. Additionally, a short sale is typically faster and less expensive than a foreclosure. In short, a short sale is nothing more than negotiating with lien holders a payoff for less than what they are owed, or rather a sale of a debt, generally on a piece of real estate, short of the full debt amount.
What is an REO property:

Real estate owned or REO is a class of property owned by a lender , typically a bank , after an unsuccessful sale at a foreclosure auction. This is common because most of the properties up for sale at these auctions are worth less than the total amount owed to the bank. The minimum bid in most foreclosure auctions equals the outstanding loan amount, the accrued interest and any costs associated with the foreclosure sale including attorneys' fees. After an unsuccessful auction, the bank will go through the process of trying to sell the property on its own. It will remove some of the liens and other expenses on the home and try to resell it to the public, either through future auctions or direct marketing through a Realtor. Generally speaking, bank REO properties are in poor shape in terms of repairs and maintenance; however, real estate investors will often go after these properties as banks are not in the business of owning homes and so, in some cases, the low price can more than compensate for the condition of the property.
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