Selling Short, an excellent strategy that turns foreclosure into a victory.

We read about the foreclosure rate skyrocketing every day. For various reasons be it economic reversals, interest jumps, lost job, failed business, divorce, sickness, your bank loan goes into default and you are unable to acquire adequate replacement financing to cover the note, so you are confronted with foreclosure, as the only option.

Not so, there are options turning foreclosure disaster into victory.

The bottom line of this issue is the resulting return to the bank through foreclosure which frequently is disastrous for the bank as the auction could yield a very inadequate return or worse yet andvery frequently, no return at all, then the bank is stuck with the collateral property, and all the ensuing costs and expenses and absolutely no return at all.

This is their nightmare, and its as big a headache as yours, and therefore the the reason a bank will accept less then the value of the loan, rather then take another property they cannot resell easily or for enough to warrant the effort and expense.

In view of the significant number if bad loans the banks are experiencing and thus the large number of failed auctions forcing the banks to take over the property, they would much prefer to receive less but end the loss.

A short sale, selling the collateral property for less then the note and having the bank accept the deal with a forgiveness of the shortfall. It requires a convincing presentation of the facts. The bank will not accept this arrangement on a lark, all the pertinent information must be documented and reliable, including appraisals and financial statements.

I highly recommend hiring an experienced workout specialist who knows exactly how to accomplish this feat. Its well worth it. It turns disaster into victory.

Give me a call, I would be glad to evaluate your situation for you.

413-549=2966