Trilogy Property Solutions
Lenders accept a short sale
While most lenders will not be thrilled at the prospect of a short sale they are acutely aware that a foreclosure is usually a far more time consuming and costly option. In a real estate market where housing values are going down it is in the best interests of the lender to liquidate their problem loans as quickly as possible.The Mortgage Relief Act
President Bush will include the Mortgage Relief Act in his initiative to assist homeowners damaged by troubled mortgages. The Mortgage Relief Act, would change current law that forces individuals to pay an income tax when they have had a part of their mortgage loan forgiven or have been forced to foreclose because of their inability to pay their mortgage. The Mortgage Relief Act will relieve families of a tax burden when their lender forgives part of the mortgage on a principal residence.There are probably many of you out there who have the knowledge of how to do a short sale, or would like to learn more about them, but lack certain key resources. There are also some of you who may have resources but lack the knowledge, and would like to work some short sales. If this is true for you, then you have come to the right place and to the right people! We can provide not only the knowledge but also the resources, such as the ability to fund out a deal, access to attorneys and real estate agents, and direct contact information and intimate knowledge of how the short sale process works.
Many of the investors we work with are people, just like us, who have come across distressed homeowners either through their marketing efforts or via word of mouth. If that’s you but you aren’t sure what to do next, we can help! If you have a more intimate knowledge of how short sales work but lack resources, we can help!
To start the process, we’ll need to collect a third party authorization and short sale package from the homeowner. The authorization enables us to speak to the bank on their behalf, and the short sale package is made up of all documents required by that particular lender (required documents are listed within each lender’s short sale package). Once we have those documents we’ll submit them to the bank and you’ll be able to view the status of the file on this website, as well as download any and all necessary documents for the short sale.
As overwhelming as all the details may seem, the short sale or loan modification process does not have to be so hard, you just have to work with the right team. We are that team! Don't give up like so many investors do, don't make costly mistakes, don't lose a deal, instead sign up and take action!
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