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Short Sale Benefits Presentation by Dave Halpern


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A short sale enables the borrower to avoid foreclosure. A short sale enables negotiation of full forgiveness of the remaining debt. Call Dave Halpern, Broker Realtor, (502) 664-7827

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Short Sale Benefits Presentation by Dave Halpern

  1. 1. 1<br />The Goals of a Short Sale<br />Avoid Foreclosure<br />Debt Relief<br />The Least Damage<br />Start The Rebuilding On The Best Available Terms<br />Dave Halpern Copyright 2008-2009<br />
  2. 2. 2<br />Dave Halpern Copyright 2008-2009<br />Who defaults on a loan?<br />Good, honest, hardworking people<br />Overwhelmed by other life events<br />Adjustable rates<br />Vanishing equity but need to sell<br />Landlords with non-paying tenants and destroy the property<br />
  3. 3. 3<br />Dave Halpern Copyright 2008-2009<br />Who defaults on a loan?<br />Sellers in foreclosure should be treated with the utmost respect. <br />Many had perfect credit before they got caught in this national foreclosure crisis<br />
  4. 4. Foreclosure Avoidance Methods<br />Reinstatement<br />Loan modification<br />Repayment plan<br />Short sale<br />Deed-in-lieu of foreclosure<br />Bankruptcy<br />Dave Halpern Copyright 2008-2009<br />4<br />
  5. 5. 5<br />Dave Halpern Copyright 2008-2009<br />What is a Short Sale?<br />When the lender accepts an amount short of the payoff<br />
  6. 6. Short Sale Benefits<br />Financial <br />Emotional<br />Dave Halpern Copyright 2008-2009<br />6<br />
  7. 7. Benefits of a Short Sale<br />Mortgage Debt Relief<br />Stress Relief<br />Sleep better at night<br />Seller gets life back<br />Start rebuilding faster<br />Avoid foreclosure<br />Reduce or eliminate need for bankruptcy<br />Dave Halpern Copyright 2008-2009<br />7<br />
  8. 8. The Steps of Foreclosure<br />Non payment<br />Warning letters<br />Foreclosure filing<br />Sheriff serves papers<br />Numerous technical stages until actual sale at foreclosure sale<br />Plenty of time and many months, but do not delay<br />Dave Halpern Copyright 2008-2009<br />8<br />
  9. 9. Foreclosure Avoidance Methods – Disadvantages<br />Reinstatement<br />Need the cash to bring payments current<br />Loan modification<br />Low approval rate<br />House still overleveraged<br />Payments may stay the same or go up<br />Dave Halpern Copyright 2008-2009<br />9<br />
  10. 10. Foreclosure Avoidance Methods – Pros and Cons<br />Repayment plan<br />Need ability to make much higher monthly payments<br />Short sale<br />Approval is not guaranteed<br />Deed-in-lieu of foreclosure<br />Credit and emotional toll<br />Bankruptcy<br />Dave Halpern Copyright 2008-2009<br />10<br />
  11. 11. Benefits of a short sale<br />Time - Seller can stay in the home while the short sale is negotiated<br />Money – Seller can save up during the short sale<br />Credit – Better than foreclosure or bankruptcy<br />Rebuild – Faster rebuilding process<br />Stress relief<br />Dave Halpern Copyright 2008-2009<br />11<br />
  12. 12. Short Sale – Cost to Seller?<br />The foreclosing lender typically pays all closing costs and Realtor fees out of lender proceeds, at closing.<br />Bank knows the seller doesn’t have funds, so the bank pays your way<br />There are exceptions<br />Dave Halpern Copyright 2008-2009<br />12<br />
  13. 13. Short Sale – Why Dave Halpern?<br />Most importantly, everyone in our organization cares about helping clients avoid foreclosure.<br />Track Record! We close dozens of short sale listings each year<br />Enthusiastically satisfied clients – many testimonials<br />Capable<br />Trained<br />Experienced<br />Organized<br />Dave Halpern Copyright 2008-2009<br />13<br />
  14. 14. 14<br />Short Sales – Why Dave Halpern?<br />Systemized<br />Has full in house team of four that negotiates and processes short sales<br />Again, most importantly, everyone in our organization cares about helping clients avoid foreclosure. Our goal is to help you get the house debt out of your life and have their lender forgive their deficiency, in writing!<br />We have helped many sellers in Jefferson, Bullitt, Oldham, Shelby and Nelson Counties<br />We typically get the foreclosing lenders to forgive $30,000 to $200,000+ of debt above the sales price!<br />Dave Halpern Copyright 2008-2009<br />
  15. 15. 15<br />The Goals of a Short Sale<br />Avoid Foreclosure<br />Debt Relief<br />The Least Damage<br />Start The Rebuilding On The Best Available Terms<br />Dave Halpern Copyright 2008-2009<br />
  16. 16. MORTGAGE ASSISTANCE RELIEF SERVICES DISCLOSURE<br />The following disclosures are being made pursuant to the Federal Trade Commission’s Mortgage Assistance Relief Services (“MARS”) Rules (16 C.F.R. Part 322).<br />IMPORTANT NOTICE: Before using this service, consider the following information:<br /> does not and cannot charge you any upfront fees in conjunction with listing to sell your house via a short.<br /> is NOT associated with any government agency or program, and our company is NOT approved by the government or your lender(s).<br />Even if you accept this offer and use our service to sell your house via a short sale, your lender may not agree to change your loan or approve the short sale.<br /> is not and will not provide you with legal advice or representation.<br />At this time no one knows how long it will take to complete the short sale. There is no guarantee that the short sale or any other type of mortgage assistance relief service will be approved by your lender(s).<br />You may stop doing business with us at any time with regard to the short sale, our short sale negotiation services or real estate brokerage services which are being provided to you as a part of our effort to get your house sold.<br />Real estate commissions and/or short sale negotiation fees will apply only if you accept the short sale offer from your lender or servicer. The fees will be agreed upon engagement of the Realtor. These fees and commissions and all other fees associated with the short sale of your house will be listed on the HUD 1 closing statement.<br />If you stop paying your mortgage, you could lose your home and damage your credit rating.<br />Any decision to stop or limit communication with your lender should be determined by you and your legal counsel in accordance with the Fair Debt Collection Practices Act.<br />Contact Dave Halpern, Tel. (502) 664-7827<br /><br />Dave Halpern Copyright 2008-2009<br />16<br />
  17. 17. 17<br />Contact Dave Halpern<br />Tel. (502) 664-7827<br /><br />Dave Halpern Copyright 2008-2009<br />