Baltimore Short Sale

Tips when Looking for a Maryland Short Sale Specialist

The services of a short sale specialist are exactly what you need if you’re seriously considering avoiding foreclosure and opting for a short sale. Although there may be hundreds of real estate agents in your location, it is highly recommended that you work with someone who specializes in short sales. There is an increase in short sale specialists in recent years as more homeowners are becoming informed of the advantages of a short sale vs foreclosure. The popularity of short sale, is because of the fact that several programs have been launched by both the government and private lending sectors to encourage homeowners on default to short sale rather than wait for their properties to go into foreclosure.

Despite these programs, selling and buying of a short sale property is generally a long, tedious, and painstaking process. Majority of homeowners only have limited knowledge when it comes to real estate. This is where the experience and expertise of a Maryland short sale Realtor comes in handy. They not only assist you in the preparation of documents, they also facilitate negotiations with the lender.

If you are a seller, you will need the services of a short sale specialist for various reasons:

Prepare a preliminary net sheet for the short sale package

Short sale agents will be responsible in preparing the net sheet for the short sale package. They assess all the important factors that need to be considered when determining the cost of the entire short sale process. They will also provide you with a review on the current market trends in your area, thus enabling you to come up with an acceptable price of your property.

Remind sellers of the documents that need to be filled out

A short sale specialist acts as a facilitator between the lender and a seller. An agent who specializes in short sales will be able to determine which documents should be filled out and completed immediately. It should be remembered that there are a lot of homeowners in financial hardship who are looking into short sale as their solution to get out of debt. Applying for a short sale early may give you the advantage of being approved right away. A short sale specialist makes sure that your documents are already complete before submission to the lender. Delayed submission of the documents may result in a delay or rejection.

Negotiate with lending institutions

If you want a smooth sailing short sale process, hiring the expertise of a short sale agent will help in speeding up the process. Agents who have experience in handling loss mitigation for several clients have accumulated knowledge about the proceedings of different lenders. In addition, a short sale specialist with excellent communication and negotiation skills may help sellers in convincing a lender to approve of their short sale in a short amount of time.

Where to find short sale specialists?

There are many venues where you can seek for expert short sale services. Here are some of the platforms where you can look for one to help you in your plans of short selling your real estate property.

• Real Estate Agencies

Contact a trusted real estate company in your community. They are certainly staffed with real estate agents that specialize in loss mitigation and short sale.

• Classified Ads

Your local newspaper features real estate agents. It is best to look at classified ads once in a while as most short sale specialists do advertise their services through written publication. Contact the agent immediately and talk about the short sale process in general. Try to schedule a meeting to talk about the process and the commission of the specialist once the short sale is finally closed. However, our short sale services are always free to the homeowner in hardship!

• Real Estate Agent Online Forums

The easiest way to find a short sale specialist is looking through online forums. You need to participate in forums in order to find a short sale specialist who can work with you in your community. When looking for specialists online, you need to be careful as well. There are agents who claim that they can help you with a short sale, but may even be a burden to you. There are novices who are attempting to market themselves to be short sale specialists due to the increased demand for this type of agent nowadays. An online forum will enable you to check the credibility of a short sale specialist as well.

Ask for referrals from friends and relatives

You may know friends or family members who successfully closed a short sale. It may be best to use the services of their Maryland short sale specialist Realtor. This is especially true if you are living within the same area or community. In this case, you can even get advice as to which documents are required to speed up your short sale process. So, contact an experienced Maryland short sale Realtor who fits the criteria you are looking for, and get your home sold!Contact

The Short Sale Specialist Network

We are a nationwide network of offer 8,000 short sale specialists who offer no cost short sale assistance to home owners who are in financial hardship.  If you need to be connected to a Maryland short sale specialist, fill out the form below, and an expert will be in touch with you shortly.  We will guide you through the process and connect you with an agent who is highly experienced and trained in short sales.

www.Short-Sale-Specialists.com

877-737-4903

Ask a local short sale specialist!

Do you need a Maryland short sale specialist to help you  stop foreclosure on your Baltimore Maryland home,? Then you are in the right place! Our Baltimore MD area Distressed Property Expert real estate agents are here to help, and are Certified or trained in the Maryland Home Affordable Foreclosure Alternatives, or HAFA Government short sale program. With the assistance of an experienced specialist, you may be able to avoid Maryland foreclosure by choosing one of the many alternatives available. If you are looking for ways to avoid Maryland foreclosure, contact us to speak to a local expert to offer no cost assistance.

Copyright First Coast Realty Associates 2012

5 Effective Ways to Avoid Maryland Foreclosure:

Home and property owners facing possible foreclosure are unaware that they have other options in order to avoid losing their home. In fact, there are several ways to stop foreclosure and prevent property owners from further falling into a huge pile of debt. If you are experiencing financial difficulties making it hard for you to make your mortgage payments on time, you can follow these ways to avoid foreclosure and keep a roof above your head and possibly salvage your credit.

Perform a Short Sale Transaction on your Home

One of the best ways to stop foreclosure is to perform a short sale. Putting up your home for a short sale will not only help you avoid having the financial institution foreclose your property; it may also have a significantly lesser impact on your credit score. Other factors such as your current and future employment are also not affected when you perform the short sale process. Your future loan applications are still affected, but its effects are not as bad compared to foreclosure or bankruptcy.

If you are interested in putting up your home for a short sale, you should choose a real estate agent who is experienced in performing short sale transactions. Short sale Realtors know how the process works inside and out, so make sure that you deal with an agent with a lot of experience and who knows the market well.

Negotiate for a Loan Modification with your Current Lender

Another of the most effective ways to avoid Maryland foreclosure is to negotiate for a loan workout agreement with your current lender. More commonly referred to as loan modifications, these are also great alternatives to bankruptcy. In fact, loan modifications are preferred by most home and real estate property owners compared to the other loss mitigation options they have available. If you are able to come up with a successful and mutual loan workout agreement with your lender, you can definitely put a stop to the foreclosure of your property.

In order for you to reach an agreement for a loan modification with your lenders, you need to show them how they will benefit from the change of your loan terms. If your negotiation with the lenders is successful, you may be able to benefit from the following changes:

• A reduced interest rate on your loan
• An extension on the term of your loan
• A fixed rate amount
• An increased or a reduced mortgage principal
• All of which are ways to stop foreclosure and prevent you from filing for a bankruptcy

Arrange for Special Forbearance or a Repayment Plan

Arranging for special forbearance is also one of your ways to avoid foreclosure. Just like short sales and loan modifications, a special forbearance may also help you save your home. This is one of the techniques that a lot of home and property owners are unaware of, so they end up leaving their properties for foreclosure.

A special forbearance is an agreement between you and the lender consisting of a repayment plan that reinstates an asset, a temporary reduction of your monthly payments, or a temporary suspension of your mortgage payments.  If you want to keep a roof above your head and still provide your family and your loved ones with a shelter, you should consider arranging for a forbearance.

Obtain a Partial Claim on your Property

Being able to obtain a partial claim on your home is also one of the best ways to stop foreclosure. As we all know, leaving a home for foreclosure greatly affects a lot of factors in a property owner’s life such as their credit score, credit history, credit standing, current or future employment, and future loan qualifications. If you are one of the property owners who are facing possible foreclosure, you should consider going for this alternative rather than just allowing the financial institution to take away your home.

In order for you to obtain a partial claim, you need to work closely with your lenders so that they can help you get a one-time FHA-Insurance fund payment. Once your lender files for a partial claim, the US Department of Housing and Urban Development will give your lender the required amount you need to make your mortgage current. For you to qualify, your loan should be delinquent for at least 4 months, but should not be delinquent for more than 12 months. You should also have the ability to begin making your mortgage payments in full.

Return the Property through a Deed-In-Lieu of Foreclosure

Returning the property to the lender through a deed-in-lieu of foreclosure is one of your ways to stop foreclosure, you should only consider this option as your last resort. It is important that you understand completely how this process works, in order for you to avoid experiencing more problems in the future. Also keep in mind that while you may be slightly relieved of your debts when returning the property through a signed deed-in-lieu of foreclosure, it may still affect your credit the same way foreclosure does.

Since you are essentially “giving back” your home or your real estate property to the lender, signing a deed-in-lieu of foreclosure will not save your property. However, it is still one of your ways to stop foreclosure and avoid damaging your credit score further. In order for you to qualify for this deed, you need to be in default on your current loan. You should also not be qualified for other loss mitigation options. You will also qualify if previous attempts in selling your house were not successful. If you are in a situation to where you are on the verge of losing your home, contact a Maryland short sale Realtor. They will be able to assist you with any and all questions you have and help you come to a decision that will best suit your situation. Do not let your hardship get in the way of your future, options are available!

www.Short-Sale-Specialists.com

877-737-4903

Ask a local short sale specialist!

Trying to stop foreclosure on your Baltimore Maryland home,? That’s a start! Need a Baltimore Distressed Property Expert in short sales to offer free broker short sale services? Our Baltimore MD area Distressed Property Expert real estate agents are here to help, and are Certified or trained in the Maryland Home Affordable Foreclosure Alternatives, or HAFA Government short sale program.  With the assistance of an experienced specialist, you may be able to avoid Maryland foreclosure by choosing one of the many alternatives available.  If you are looking for ways to avoid Maryland foreclosure, contact us to speak to a local expert to offer no cost assistance.

Copyright First Coast Realty Associates 2012