Real Estate Resource
Why would a lender agree to a short-sale?
For one reason: the losses suffered by the lender are typically much less with a short sale than losses suffered after completing the foreclosure process.
What are the benefits of a short-sale to you?
A short-sale is often a better option for you, the seller, than a foreclosure because it is seen by the lenders as a willingness to help and results in significantly less damage to your credit. Immediate benefits credit benefits of short-sale versus foreclosure could help with cell phone, insurance, credit card rates and limits. Future benefits include, in most cases, the ability to obtain a mortgage for a new home (subject to qualification) within 2 years vs. 5 - 7 years for a foreclosure.
Protect yourself.
As a Realtor with an extensive lending background, I can assure you that the knowledge and expertise of the agent you choose to sell your home will have a significant impact on the outcome, your credit and your future.
I can help you compile the documentation necessary to review with an attorney specializing in short-sales to determine if you face "recourse" (a deficiency judgment or collection) after your home is sold.
I provide the documentation necessary for your tax advisor to determine if you qualify for the Mortgage Forgiveness Debt Relief Act of 2007 If you don't, the documentation I provide will help your tax advisor determine if you can claim Insolvent or calculate your potential income tax ramifications.
I can help.
With over 20 years experience in the lending industry, I know the language of lenders, the guidelines and criteria. I have the detailed systems in place to handle the marketing and sale of your home PLUS the negotiation and tracking with your lender.
Additional short-sale topics on my blog:
Read This BEFORE You Sell Your Home as a Short-Sale
Clarification Regarding California Non-Recourse Mortgages
Professional Short-Sale Buyer - BEWARE!
Time is of the essence!
It is important to take action immediately to protect your family, your credit and your financial future. Once you become late on your mortgage, the foreclosure clock starts ticking and the number of options, and time frame for each option, quickly becomes limited.
Now it's up to you............
I am ready to go to work for you. My consultation process includes a thorough review of all your options, not just a short-sale. Call me to schedule a confidential appointment.
"My wife and I have always been responsible with our finances. We never missed a loan payment and had 800+ credit scores......then my income shrank by two-thirds. In order to keep our home we depleted 8 months of savings, liquidated our retirement account, tried to refinance, tried to rent the house and tried to get a loan modification which was denied. In the end we were heartbroken and prepared to walk away from the home and let it go to foreclosure.
What changed everything for me and my wife was a call with Wendy Cutrufelli. Never on my 12 years in finance have I worked with a realtor so knowledgeable about her business......a knowledge she backs up with energy, enthusiasm and hard work. Wendy helped guide us through the short sale process with compassion and an in-depth understanding of the process.
Wendy's hard work gave us the opportunity for a fresh start and we are forever grateful. We wholeheartedly recommend Wendy Cutrufelli to anyone who wants to sell their home." Luke and Bev