Wichita residents can avoid Foreclosure by doing a Short Sale
Are you struggling to make your mortgage payments?
- Do you owe more on your home than it will sell for and still be able to pay commission and closing cost.
- Do you want to avoid Foreclosure?
The Jeff Blubaugh Real Estate team are the short sale experts. We are experts in helping you work with your mortgage company to perform a short sale!
If you are currently in a foreclosure situation there are several options a homeowner can pursue including a short sale, regular sale, or sale of your redemption rights. Many sellers without equity are also eligible for a relocation grant up to $2,500. A short sale or short payoff is when your lender or lenders accept a discounted payoff on an existing mortgage and agree to allow $0 in closing for the homeowner to avoid the cost of a foreclosure. In other words, when a homeowner finds themselves in a situation where the market value of their home is not enough to cover the principal balances, late fees, attorneys fees and closing costs, and their loan is in default A short sale allows them to sell their property to avoid a foreclosure for themselves and the lender.
Here are some of our latest success stories:
- Successfully negotiated a short sale with Bank of America on a Bonnie Brae home and the bank accepted $48,898 under the amount owed.
- Negotiated and closed a short sale with US Bank on a Southeast Wichita home which previously sold for $187,500 and the bank agreed to accept $135,000 and was closed after Sedgwick County Sheriff Sale.
- Closed a short sale in the Goddard School District with State Bridge Company when the contract was received AFTER SHERIFF SALE and the lender agreeing to a loss of more than $35,000 less than the original purchase price.
- Assisted a seller in South Wichita with a Wells Fargo short sale and now 18 months later he has a 700 credit score.
- Assisted a seller in Mulvane with a Well Fargo loan after the Sheriff Sale and the seller walked away with over $17,000.
- Negotiated a sale of real estate with Wells Fargo for $42,451 short of the total balance owed and the seller received a $750 relocation fee.
- Sold a $260,000 rural Kansas property in 2 weeks and Member Services credit union agreed to a loss of $12,702 and the seller got over $3,000.
- Negotiated a short sale with Chase and Homecomings short $98,742! Closed a short sale with Bank of America, for a total of $53,702 short.
- Metlife/First Horizon agreed to a short sale taking $38,330 less than what was owed.
- Successful short sale with HSBC, taking a reduction of $63,121 of the original lien and paid the seller $2,500 relocation fee.
- Recently closed another short sale with Indy Mac and the seller received $11,208 at closing!
Call Jeff Blubaugh today at 316-640-0656 to be the next Foreclosure-turned-success story!