Hardship/Short Sale/REO

We understand that you are facing some tough decisions about your financial future and that includes the decision to sell your home. This can be overwhelming.

• A foreclosure has major negative impacts on your credit
• A foreclosure will most likely result in a large deficiency judgment awarded to the bank for the amount of their loss.
  Judgments are good for 20 years in states such as CT and allow the bank to garnish your wages and attach you bank accounts.
• Should the lender pursue their rights with the judgment they may force you to file for Bankruptcy leaving you with both Foreclosure and Bankruptcy on your credit.
• A foreclosure will prevent you from qualifying for a conventional mortgage for as many as 7 years if you do not have a large down payment and higher than average credit score.

 

• You will not have damaging foreclosure mark on your credit 
•  May not have to bring any money to closing even if your home is underwater
• May avoid bankruptcy
• May not need to make extensive repairs
• Could qualify for another home in much less time than if you allowed the bank to foreclose.

The lender prefers to work with professionals.  They trust that your agent will provide legal, ethical, and experienced assistance.  Asset Real Estate has been working in the default industry for over 20 years.  They know that we understand the market, your area and how to properly price, list and sell a home.  Our opinions are well received by your lender and will ultimately help them make a decision in your favor.  A valid listing agreement is one document that is required by every lender in order to review a short sale offer.  You must have an agent involved and we work for no cost to the seller.