Short Sale

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Short sale is a term which refers to the process of making a deal with your current lender to allow you to pay less than the balance owed on the mortgage to get out of the property without going through a foreclosure.

If you cannot refinance your property and are facing foreclosure, you may wish to contact your lender to discuss a short sale, especially if you owe more than the fair market value of your home. There may be other options available to you. If your property is worth at least $250,000, it may be possible to find an investor to aid you in keeping your property even with minimal equity. Email us at PrivateClient@RefinanceOne.net for more information, and please include the state in which the property is located, the value of your home as well as all outstanding mortgage balances, fees, and past due amounts so that we can assist you efficiently.

Short sales are an option of last resort. If you have 30% or more equity in your property, you may qualify for a foreclosure refinance. To find out more about foreclosure refinancing as an alternative to a short sale, contact us at (800)515-8443

A shortsale could save you from completly damaging your credit. One main part in a shortsale is working with an expert that is knowledgeable on excuting shortsales. The lender does have to approve the shortsale, and will send out BPO to determine the value of the home.

The Preforeclosure Sale (PFS) Program allows the mortgagor in default to sell his/her home and use the net sale proceeds to satisfy the mortgage debt even though these proceeds are less than the amount owed.

Short sale documentation would be similar to that of getting a new mortgage. But also will include information regarding the exsisting state of your properties market.

The foreclosure process can cost a lender a significant amount of time and money, so they may be more willing to accept a short sale than begin a lengthy legal proceeding.

You should consult a tax professional about tax consequences of a short sale, especially if you have not declared bankruptcy. The lender may issue you a 1099-A for the difference between the amount owed and the amount you settle for with the short sale.

This post has been filed under : short sale, payoff, foreclosure

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Interest Only & Pay Option from $650K to $40 Million

Feeling Like a Square Peg in a Round Hole? Super Jumbo mortgage lending is a highly specialized field, requiring a level of expertise gained only through the experience of handling a large number of multi-million dollar transactions.  If you're tired of lenders trying to "fit" your unique financial needs into their conventional lending comfort zone, consider becoming a Private Client of R1.

Get More Information from the Super Jumbo Experts. Call (800)290-4770 or Fax (800)517-7095

Where is Your Home?	Start Here Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington, DC Washington State West Virginia Wisconsin Wyoming		How Much is it Worth?	Below $650,000.00 $650,000.00 $700,000.00 $750,000.00 $800,000.00 $850,000.00 $900,000.00 $950,000.00 It's OK to Estimate $1.00 Million $1.10 Million $1.20 Million $1.30 Million $1.40 Million $1.50 Million $1.60 Million $1.70 Million $1.80 Million $1.90 Million $2.00 Million $2.25 Million $2.50 Million $2.75 Million $3.00 Million $3.50 Million $4.00 Million $4.50 Million $5.00 Million $6.00 Million $7.00 Million $8.00 Million $9.00 Million $10.00 Million $12.50 Million $15.00 Million $17.50 Million $20.00 Million $25.00 Million $30.00 Million $35.00 Million $40.00 Million or More
How Can We Help You?	Take Cash Out Improve Cash Flow Fix Interest Rate Consolidate Debt Purchase a Home Construction Loan Non-USA National		Desired Loan Amount	Below $650,000.00 $650,000.00 $700,000.00 $750,000.00 $800,000.00 $850,000.00 $900,000.00 $950,000.00 It's OK to Estimate $1.00 Million $1.10 Million $1.20 Million $1.30 Million $1.40 Million $1.50 Million $1.60 Million $1.70 Million $1.80 Million $1.90 Million $2.00 Million $2.25 Million $2.50 Million $2.75 Million $3.00 Million $3.50 Million $4.00 Million $4.50 Million $5.00 Million $6.00 Million $7.00 Million $8.00 Million $9.00 Million $10.00 Million $12.50 Million $15.00 Million $17.50 Million $20.00 Million $25.00 Million $30.00 Million $35.00 Million $40.00 Million or More
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