What happens when you owe more in mortgages than your property is worth, and you must sell?
1) Your first option is to bring enough money to closing to pay off the mortgages, closing costs, and commissions.
2) Your second option is to hire an experienced team that will negotiate a short sale on your behalf.
3) The third (not recommended) option is to let the property go into foreclosure.
We specialize in the second option, short sales. We will negotiate on your behalf with your lender. Our team has successfully closed over 100 short sales in Minnesota and we can help you today. When you work with us you will receive a free consultation from our team’s local attorney upfront.
What can we do for you?
1) Negotiate away or minimize promissory notes
2) Advise you on managing your property throughout the process
3) Have the bank pay your closing costs and our commission
4) Avoid foreclosure
If you are going to be unable to continue making payments on your mortgage, call us immediately at 612-968-2161 or email us at Jesse@MnShortSale.com. The sooner we begin negotiating with your lender, the better it is for you. We can even negotiate on your behalf before you have missed a payment!
If you delay, your options will decrease. Some lenders will not negotiate a short sale after the sheriffs (foreclosure) sale has occurred. Every month that goes by is resulting in further damage to your credit report. Also, as the foreclosure proceeds, your lender is incurring more costs and it is more difficult to reach a settlement.
Content published by Jesse Grumdahl