Chicago Short Sales
What exactly is a Short Sale?
A short sale happens when the homeowner's home becomes distressed due to a financial hardship which has caused them to stop making mortgage payments and forcing them to sell their home. The short sale has to be accepted and agreed upon with the lender, they have to be willing to take a lower "pay off" in order to avoid foreclosure.
What are the qualifications for a Chicago Short Sale?
The qualifications for a short sale first and foremost depend on your hardship. The homeowner must be in some sort of financial hardship. Examples of those hardships are, loss of income, loss of employment, Active Military, Death in the family of someone who as a contributor to paying the bills, medical expenses, etc. These are only some of the hardships and lender may accept in order to go through with a Short Sale.
What will I need to provide for my Chicago Short Sale?
Your lender will ask you for what is called a Short Sale Package. This package will contain sheets of financial documentation to prove your hardship. Examples of what to expect to show in the package are:
Pay stubs, W-2's, Bank Statements, Hardship letter, etc.
Keep in mind, that when you are writing your hardship letter, that you stay completely honest. Honesty is the best policy.
Why should I choose to do a Short Sale?
You should choose to do a short sale for multiple reasons; and most of them having to do with your credit. It takes a long time to build your credit up, and it isn't easy. All it takes is one simple mistake, and boom, it comes crashing. This is what a foreclosure would do. It will dramatically drop your credit score, while lingering for up to seven years, preventing you from qualifying for any loans. A short sale, however, will not impact you to the point of a long wait, but simply a two year recovery. In two years, the homeowner could be well on their way, and ready to become a once again, homeowner. If that isn't a good enough deal, the Home Affordable Foreclosure Alternative program is offering $3,000 towards your relocation after a successful completion of your short sale! There are also other great Short Sale Incentives to be told about, some which are being offered up to $30,000.00!
How much work will I have to do in the Short Sale?
During the short sale, you will be asked to get together your Short Sale Package, and that is it. You will be able to keep in contact and count on your questions to be answered, but you will not be bothered.
When should I contact a Short Sale Specialist Realtor?
Now! Contacting us should be at the top of your list! We on on YOUR side! We WANT to get you through this! Not only this, but our services to you are 100% FREE! You pay NOTHING! Our highly energetic and advanced experience make us real Chicago short sale specialists! Don't fall for the Realtor who has only closed a few short sales. Our agents have the knowledge, skill and experience it takes to confidently and successfully close your Short Sale and have closed thousands of them!
Our Network covers the entire state of Illinois, and our services are 100% FREE for you! Please call (877)737-4903 or fill out the form below for a confidential, no obligation consultation. Please list the city your property is located in as well as the best time to contact you.
Remember, our service is at no cost to you!
Need a Chicago Distressed Property Expert Certified in short sales to offer free short sale broker services? Our agents are here to help with a mortgage short sale, and are Certified or trained in the Illinois Home Affordable Foreclosure Alternatives, or HAFA Government short sale program. Our agents are also very familiar with the Illinois short sale process and can offer guidance and Chicago short sale services at no cost. We have helped thousands of homeowners stop Chicago Illinois Foreclosure with a short sale. Contact us to speak to a Chicago Illinois short sale specialist Realtor today. Just say, "how do I short sale my Chicago real estate", or "I need short sale assistance and help in Chicago Illinois", and we will get you on the right track.