Avoid Foreclosure, You have options and we can help! (For Free)

As a former loan officer and Certified Distressed Property Expert The Muller Realty Group has the experience and expertise to help you avoid foreclosure. Now this might sound weird coming from Realtors but we are not just interested in selling your home, our first priority is to help you save your home, with a successful short sale being the last resort.

Why would we want to help people not sell their homes, and at no charge? Well first, we hate to see anybody lose their home, especially if it could have been avoided with the proper guidance. Also if we can save your home we like to think that when it comes time for you or someone you know to buy or sell, we will be your first choice. So Please Contact Us today for more information or to get started with this FREE service. Also see the 9 Ways to stop Foreclosure

Short Sales

It's unfortunate but not every home can be saved, also some homeowners may decide that giving up their home is the right choice for their situation. In these types of circumstances you still have options to prevent the damage a foreclosure can do to your credit and your life.Stop Foreclosure

A Short Sale is when the Mortgage company has agreed to CONSIDER taking less than is owed on the mortgage as a sales price. They typically will not give an answer as to what price they would accept, until they have received an offer. This is where having the right agent working for you makes all the difference in the world. The national average for a short sale that is successful hovers around 10% to 15%. The average success rate for Certified Distressed Property Experts is around 85%!

Short Sale Vs Foreclosure

Issue: Fannie Mae backed mortgage

Foreclosure - Ineligible for a period of 5 years
Successful Short Sale - Eligible for a new mortgage after only 2 years

Issue: Mortgage loan application

Foreclosure - For 7 years must answer yes to previous foreclosure - This will affect interest rate
Successful Short Sale - There is no declaration or question for short sales

Issue: Credit Score

Foreclosure - May drop anywhere from 250 to 300 points for 3 years
Successful Short Sale - Only late payments will be reported, will lower score as little as 50 points, for as little as 12 to 18 months

Issue: Credit History

Foreclosure - Will remain on credit history as public record for 10 years or more
Successful Short Sale - is not reported on credit history

Issue: Security Clearance

Foreclosure - Short of a felony conviction Foreclosure is the biggest hurdle to a security clearance, In almost all cases the clearance will be revoked and the job terminated
Successful Short Sale - Does not have any effect on almost all security clearances

Issue: Current Employment

Foreclosure - Employers reserve the right to and many actively are checking employees credit reports, Foreclosure may be grounds for re-assignment or termination.
Successful Short Sale - is not reported on your credit report and therefore is no challenge to employment

Issue: Future Employment

Foreclosure - Credit checks are required as part of the application process by many employers, and a foreclosure is one of the most detrimental findings there is which may challenge employment
Successful Short Sale - Not reported on your credit report and is not a challenge to employment

Issue: Deficiency Judgment

Foreclosure - in 100% of Foreclosures the bank has the right to pursue a deficiency judgment
Successful Short Sale - In some successful short sales the bank can be convinced to forego a deficiency judgment

Issue: Deficiency Judgment (Amount)

Foreclosure - If sold at auction or after going through the REO process, there is usually a large deficiency, due to the fee's added on by the process.
Successful Short Sale - In a properly managed short sale, the final sales price is usually much closer to the owed amount resulting in a much smaller deficiency

The 9 Ways to Stop Foreclosure

1.REINSTATEMENT: Bring the loan current

2.FOREBEARANCE: Temporary repayment plan

3.REFINANCE: New loan with reduction in monthly payments

4.LOAN MODIFICATION: Modify original loan terms

5.SELL THE PROPERTY: Use equity to payoff or pay difference

6.RENT THE PROPERTY: Must make loan current

7.SHORT SALE: Negotiate with bank to accept sale under loan amount

8.DEED IN LIEU OF FORECLOSURE: “friendly foreclosure”

9.BANKRUPTCY: Will stall foreclosure but not prevent it