Frequently Asked Questions
What is a Short Sale?
A Short Sale is a Lender’s voluntary acceptance of less money than is owed to allow a property to be sold as an alternative to foreclosure.
Why shouldn’t I ever attempt to negotiate the Short Sale myself?
Short Sales are are incredibly long and arduous process and there is NO Guarantee a Lender will ever give their Approval. You can spend incredibly long hours gatheringppaperwork (and faxing over and over and faxing again) and on hold waiting to hear from any number of committes. In this market the last thing you want to be doing is "sit-on-hold" with Countrywide or BOA instead of what makes you money "finding new listings and selling houses"!
What is a Mortage Buy Out?
It is our proprietary method to help homeowners prevent foreclosure that eliminates the need to do a long and difficult Short Sale. Once a borrower has stopped payment on their loan and it goes into default (30-60-90 days) we buy the default mortgage note directly from the bank with the homeowner's agreement to sell the house immediately upon our taking the lien.
Why would a Lender approve a Mortgage Buy Out?
Lenders are penelaized on their borrowing rate from the Fed when they carry a certain number of default loans on their books so they are willing to get these non-performing assets off their books.
Why would a Lender not rather do a Short Sale or foreclose?
Our negotiation will show the Lender they have less loss with a Mortgage Buy Out than a short sale or foreclosure. If the Lender believes they will have less loss selling the note than what they might net otherwise (from a short sale or foreclosure) they will most often approve selling the mortgage to us.
How do I know if a property is a Good Prospect for your program?A Short Sale is a Lender’s voluntary acceptance of less money than is owed to allow a property to be sold as an alternative to foreclosure.
Why shouldn’t I ever attempt to negotiate the Short Sale myself?
Short Sales are are incredibly long and arduous process and there is NO Guarantee a Lender will ever give their Approval. You can spend incredibly long hours gatheringppaperwork (and faxing over and over and faxing again) and on hold waiting to hear from any number of committes. In this market the last thing you want to be doing is "sit-on-hold" with Countrywide or BOA instead of what makes you money "finding new listings and selling houses"!
What is a Mortage Buy Out?
It is our proprietary method to help homeowners prevent foreclosure that eliminates the need to do a long and difficult Short Sale. Once a borrower has stopped payment on their loan and it goes into default (30-60-90 days) we buy the default mortgage note directly from the bank with the homeowner's agreement to sell the house immediately upon our taking the lien.
Why would a Lender approve a Mortgage Buy Out?
Lenders are penelaized on their borrowing rate from the Fed when they carry a certain number of default loans on their books so they are willing to get these non-performing assets off their books.
Why would a Lender not rather do a Short Sale or foreclose?
Our negotiation will show the Lender they have less loss with a Mortgage Buy Out than a short sale or foreclosure. If the Lender believes they will have less loss selling the note than what they might net otherwise (from a short sale or foreclosure) they will most often approve selling the mortgage to us.
Just answer the easy questions on our website!
Why is your program so much better for me and my client than a Short Sale?
There are many reasons and benefits that will lead you and your client to love our program. ***If a house is sold through a Short Sale or Foreclosed the homeowner may still be obligated for the difference in the amount between debt owed and house sale price. Since we now hold the mortage lien the possiblity of a 'difficiency' and taxes due from a Short Sale or Foreclosure is ELIMINATED!
Since we buy the Default Mortgage and not the property (no Short Sale!) your client does not need to prove a hardship or submit extensive documents to their Lender... and you do not need to collect all this paperwork or submit a properly formatted Short Sale package to the Lender.
The beauty of our program is... You do not need to FIRST submit a purchase offer to the Lender before negotiation can begin and a possible Short Sale Acceptance "may be" granted the Lender... No Short Sale!!
For a complete list of benefits please Sign Up on our website today and you will instantly receive our proprietaite Seller report: "How To Sell Your House Fast With No Equity And Without The Hassle And Pitfalls Of A Short Sale"The beauty of our program is... You do not need to FIRST submit a purchase offer to the Lender before negotiation can begin and a possible Short Sale Acceptance "may be" granted the Lender... No Short Sale!!
What do I have to do?
Just identify a Good Prospect and submit it to us on our website, find a Buyer at a lower more competative 30 Day Quick Sale Price. We will handle the rest!
How much is this going to cost the homeowner?
No a penny! The homowner has No costs! Since this Seller is facing foreclosure the Buyer pays closing costs on a pre-foreclosure bargain property (just as would be the case in a Short Sale). And we pay Agent commissions.
What about my commission?
When you work with us you retain your listing and earn your full listing commission. You have the opportunity to earn the Buyer's Agent commission, too. And you receive a $3,000 BONUS when you refer a new client into our program.
