If you have received a "Notice of Default" from your lender, you have a limited amount of time in which to resolve the issue before you lose your home. Do not wait until it's too late.
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What is a short sale?

A short sale is when a lender will accept less than what is owed on the property to satisfy the note and release the lien.

Why Lenders are Happy to do a Short Sale

Second mortgage lenders are not in a good position when a foreclosure is imminent. They are the junior lien holder, and in a foreclosure sale, they are in danger of a total loss. Usually, there are additional considerations that make the lender anxious to accept a short sale as well, such as the property needs repairs, it may also be in a bad area where sales are low, and lenders hate to own real estate.

When a lender takes a property there is no income being generated from a defaulted note, and there are a multitude of headaches they just do not want to deal with. Many lenders will agree to a short sale rather than deal with the cost, expense, and loss caused by a default. The easy route for the lender is to cut their losses and move on.

Why the Homeowner Wants a Short Sale

Homeowners are thrilled when a real estate broker contacts them and offers to help them avoid foreclosure using a short sale. When a homeowner is in financial trouble and is four or more mortgage payments behind, foreclosure proceedings are just around the corner.

The homeowner has explored all the possibilities and determined that the house has little or no equity. Usually it is over-mortgaged, needs many repairs, may already have liens and judgments, and selling it through conventional means is next to impossible.

A succesfull short sale, negotiated through a licensed real estate professional, will enable the homeowner to eliminate the mortgage debts without the cost and expense of repairs to get out from under the house. It also helps the homeowner avoid the negative effect of a foreclosure on his credit report.

How can Notice-of-Default.com help me with selling my home in a "Short Sale"?

Notice-of-Default.com is a service offered by Powerhouse Associates, Inc. Our firm specializes in negotiating Short Pay scenarios for homeowners. We offer a network of real estate agents and brokers throughout the United States that are ready, willing and able to help you with the sale of your home negotiating with your lender on a short sale of your home. Do not wait until the last minute to take action. Time is not on your side. You owe to yourself and your family to preserve your credit. You do not want a foreclosure recorded on your credit history. Fill out our online form below. One of our representatives will contact you shortly.

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