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Stop Foreclosure Bucks County PA

Are You Facing Foreclosure?
Behind on Your Mortgage?
Short Sale Can Stop Foreclosure!

Our Short Sale Services are 100% FREE for Our Clients!

Our Short Sale Team Has Successfully Closed Short Sale Transactions In Bucks County, PA! We will provide the necessary paperwork, be responsible for all contact with lenders and banks, and negotiate on behalf of you.

Are You Upside-Down on Your Mortgage?

A Short Sale occurs when a lender agrees to accept less than the amount owed on the home mortgage. Banks approve short sales when they believe a hardship situation exists. Hardships are not only determined by how much money a person earns; it also factors in a person's expenses, especially if expenses have increased and income has decreased.

Do you want to short sale your home without worrying about your lender coming after you for a deficiency judgment? Our Bucks County short sale real estate agents specialize in negotiating short sales with banks on behalf of homeowners. We have an impressive track record of getting our short sales approved, with favorable terms for our clients. Contact us for a free confidential consultation today!

DON'T LOSE YOUR HOUSE TO FORECLOSURE!

If you're considering the possibility of doing a short sale, we can explain your options and answer your short sale questions and concerns. Our experienced Bucks County short sale agents will help you short sale your home and obtain a full waiver of deficiency judgment from your lender. Foreclosure situations tend to be extremely time-sensitive. The sooner you start, the more options are available. So, don’t wait any longer and call us today. Our professional short sale services are 100% FREE to our clients.
Extremely low levels of property inventory in Bucks County, low interest rates, and increased buyer demand are the primary factors contributing to record high sale prices for sellers. If you are currently facing foreclosure, you may be able to sell at a price where a short sale isn't necessary and you can walk away from a sale with significant proceeds. We will provide a free estimate of your property's value, so you can make the very best decisions for your financial future before foreclosure fees drastically reduce your options.

SHORT SALE PROCESS

Step 1. Gather Information

We will get the following information from you, which is needed to prove your financial insolvency:

• Bank Statements
• W2s
• Paycheck Stubs
• Property Tax Bill
• Homeowner’s Insurance Policy
• Monthly Bills
• Additional Liens
• Hardship Letter and Documentation

Step 2. Communication with the Lender

In order to speak with the lender on your behalf, we will need to obtain and submit your written authorization. Then, we will call the lender and ask for the Short Sale application packet. We will communicate with the decision-maker in the loss mitigation department directly and regularly for updates.

Step 3: Develop the Proposal to the Lender

We will develop a well-organized, professional proposal for the lender.

Step 4. List Your Home

Most likely, we will initially list your home at full market value or just below, as the lender would want to see that we are trying to get as much out of the property as we could. Next, we will lower the price until we receive offers.

Step 5: Obtain an Offer & Submit a Proposal

Once we have an offer, you will need to approve the offer. We will then submit the offer, along with the proposal packet, to the lender for approval. If your lender accepts the initial offer, the buyer must be able to close in 30 days.

Step 6: Negotiate & Close the Deal

We will negotiate with your lender(s) and get the acceptance letter. In our negotiation, we will ask to report the short sale to the credit department as “Paid as Agreed”. We want the lender to report it as “Settlement in full” with a full release of the lien. Typically, the deal must close within 30 days of the lender’s acceptance. The buyer has to be ready with cash or funding. Seller does have to attend the closing.

SHORT SALE FAQs

MUST-KNOWS ABOUT SHORT SALE

Q. What is a Short Sale?

A Short Sale is when the homeowner sells their home for less than what it’s owed on their loan, and the lender accepts the amount as the payment in full.

Q. Why Should I Consider a Short Sale?

The Short Sale happens in the Pre-foreclosure stage. If the short sale is successful, the seller escapes foreclosure and the corresponding hit to their credit report. They sustain a significantly smaller hit on their credit report for any missed payments for their Bucks County, Pennsylvania short sale.

Q. What will a Short Sale Cost Me?

A Short Sale does not cost homeowners anything. Your bank will pay all the fees of the real estate sales including closing costs and real estate commissions if and when we complete your short sale, successfully.

Q. Why Will My Bank Get Financial Benefits by Forgiving Me the Balance?

Simple. It is expensive for the lender to foreclose homes in Bucks County, PA. Some of the lender’s costs could include legal fees, insurance, taxes, eviction cost, selling cost, etc. On average, it costs as much as $50,000 per foreclosed property. A lender’s business is loaning, NOT owning!

Q. We have a 2nd mortgage. Am I still Qualified?

Both of your lenders will need to be satisfied in some way to complete a short sale in Bucks County, PA. If your first lender will be paid off by the sale, we negotiate terms acceptable to the second lender. Most short sales do involve 1st and 2nd lien holders.

Q. How is a Short Sale different from Foreclosure?

A foreclosure stays on your record for 8+ years while a short sale will allow you to purchase your next home within 2 years. Our experienced Bucks County short sale realtor can help you answer all your questions on short sales and foreclosures and share with you the solutions to get you out of the tough times.

Q. Impact on Credit - Short Sale vs. Foreclosure

Short Sales are considered preferable to foreclosures because short sales (1) lessen the impact a foreclosure can have on the surrounding community and they (2) won't damage your credit as much as a foreclosure (3) you can escape a large deficiency judgement. For instance, if you are still current with other payments, a short sale may lower your credit score by as little as 50 points.

Q. Why Short Sale is a Win-Win for the Lender, Seller and Buyer?

For lenders, a short sale is a preferred solution in many cases. If the bank takes the property back, they could lose another 20-30% in attorney fees and missed payments. A Short Sale often provides the financial and emotional relief a homeowner needs and secures a fresh start, with the possibility to get back on track and buy their next home in 2 years. For buyers involved in a short sale, they can potentially buy a property for lower than the market value.

Q. Why Do Short Sales Fail?

There are many reasons why short sales fail, including, but not limited to the following:
• Incomplete Short Sale Package
• No reasonable chance of closing
• Inexperienced Short Sale Listing Agent
• Release of deficiency
• Junior Liens

ABOUT US

Whether You Are Are Buying or Selling, You Need a Right
Short Sale Specialist!

Our experienced Bucks County short sale Realtor, Lori McGoldrick CDPE/CIAS, can help answer all of your short sale and foreclosure questions and share with you the solutions that can help stop the foreclosure action.

 

Short Sale Realtor Bucks County PALori McGoldrick
(267) 356-4777

As a lifetime resident of Bucks County, PA, Lori McGoldrick has been serving the local community as a Realtor since 2008. She is a Certified Distressed Property Expert (CDPE), a Certified Investor Agent Specialist (CIAS) and has consistently received industry awards for achievement and production since 2010.

Short Sale Bucks County PA

• Provide necessary paperwork for your Short Sale Process.

• Be responsible for all contact with your lenders and banks.

• Negotiate with your bank on behalf of you.

• Closed many successful short sales in Pennsylvania.

• 100% FREE short sale services to our clients!

TESTIMONIALS

“As someone who has had the pleasure of working with them in what I have to consider a very difficult real estate situation I would like to take this opportunity to assure you are in good hands. He handled everything efficiently and professionally. I have worked with him for the past few months in order to buy a home that was in a short sale. As I mentioned before what I thought was going to be a nightmare turned out to be a very pleasant as well as profitable experience. I found him to be an extremely pleasant and helpful person to work with. Doing everything possible in order to accommodate my needs. One of his best qualities is listening to exactly what I wanted and then with his extensive knowledge answering all of my questions. If you’re considering listing your house for sale or especially if you are considering purchasing or selling your home in a Short Sale situation then without a doubt I highly recommend!”

Justin Braun

Bucks County, PA
“Thank you for helping us out. We are so happy to be done. We are so impressed with how fast and efficient he is. We had been struggling with selling our home using various methods for a period of 18 months with no success. Once we decided to use his services we closed in less than 6 weeks. When required to negotiate with the bank, he was very professional and effective. Above all, he was compassionate regarding our feelings and sincerely wanted us to have a fresh start. We highly recommend to everyone!”

Kenyon Streich

Bucks County, PA

OUR SHORT SALE SERVICES ARE FREE FOR YOU!

Unlike a traditional real estate transaction, you do NOT pay us a penny. Your banks will pay all the fees of the real estate sales including closing costs and our real estate commission if and when your home completes a Successful Short Sale.

SHORT SALE BUCKS COUNTY PA

A short sale is a real estate transaction where a homeowner is facing hardship and gets permission from a bank to sell their property for less than they owe on the mortgage. If your house in Bucks County, PA is worth less than what you owe on the home loan, a short sale maybe your best alternative to foreclosure.

Short sale requires a unique set of skills for a real estate agent and the short sale approval can very much depend on how your agent negotiates with the lender and buyer. Our short sale team has a high success rate on approvals from the banks and closed short sales in Bucks County, New Hope, Warminster, Doylestown, Newtown, Quakertown, Ottsville, Perkasie, Chalfont, Warrington, Pipersville, Jamison, Furlong, Kintnersville, Erwinna, Riegelsville, Washington Crossing, Dublin, New Britain, Buckingham, Line Lexington, Carversville, Sellersville, Lumberville, Mechanicsville, Trevose, Feasterville Trevose, Holland, Richboro, Richlandtown, Upper Black Eddy, Durham, Lansdale, Harleysville, Souderton, North Wales, Maple Glen, Telford, and Hatfield, Pennsylvania.

Bank approves short sales when they believe a hardship situation exists, however, hardship is not only determined by how much money a person earns but also it factors in a person's expenses, especially if expenses have increased and income has decreased.

 

Stop Foreclosure Bucks County PA

Let our experienced Bucks County short sale Realtors help you avoid foreclosure in Bucks County, PA. We will negotiate directly with your banks to get short sale approvals for you. Our goal is to reach out and educate homeowners who are behind on their mortgage or think they soon will be. We have solutions that may save your credit and enable you to start fresh.

Short Sale Process Bucks County PA

Bucks County short sales are complicated but, can help sellers who owe more than home is worth. A short sale occurs when a property is sold for less than the total debt owed on the property. Bucks County short sale must be approved by the lenders and borrowers requesting a short sale must prove a hardship such as a mortgage payment increase, job loss, divorce, excessive debt, forced or unplanned relocation.

Our professional short sale service is totally free for our clients. Contact us for a free confidential consultation today!

 

Bucks County Short Sales

The easy accessibility of loans and a number of linked techniques like the payment of equivalent monthly installations has actually made buying a home an easy job. With the rapid growth of real estate service in Bucks County, PA you can promptly prepare a suitable home on your own currently. Nonetheless, many times, such investments can become risky. Mortgages on a home too can show to be the hugest danger possible. You usually can not pertain to terms with the location. At the same time, there are many chances that the worth of your house can depreciate instead of appreciating. Consequently, the value of money that you have spent on your home is far more than its existing worth. This eventually ends up being a greater issue, if you bought your home on a mortgage. To this rescue, comes a hearty solution called a Short Sale.

By doing a short sale in Bucks County, Pennsylvania, we just suggest that you can sell your undervalued house to another buyer with the authorization of your bank. If the money owed to the bank occurs to be greater than the amount you will really get, in case you sell the house, after that the best choice would certainly be to do so. If the financial institution consents to a short sale, you can sell your home to a home buyer at its decreased value and obtain the balance written off by the financial institution. Normally, the bank writes off your balance from its account. The sum not paid by you will be shown as earnings in your accounts by the financial institution.

Short sale Bucks County only happens when there is an outright warranty that the money value of your house can not increase in the future. In order to avoid the risk of a full loss, the bank often accepts the lowered amount of short sale.

Dangers likewise exist if you are the one who buys short sale homes in Bucks County, PA. There are many usual mistakes that individuals make when they buy a home on their own in short sale. If you are getting such a home, after that you must thoroughly inspect the problem of the house. Real estate investment will just be profitable if your home remains in good condition. Another typical mistake is that of overlooking property problems. You should make certain that there are no forgeries or legal issues with the property that you are buying otherwise it could cause bigger troubles in the future.

 

7 Reasons to Avoid Foreclosure

1. Foreclosure Follows You
You will always disclose that you have had a foreclosure on any mortgage application as well as many job applications. This can have an adverse affect on your future mortgage rates. This is a credit item that is asked about specifically in credit inquiries. There is no 7-year time limit on this item.

2. Credit Score Negative Impact
Your Credit Score will be lowered by 300+ points. Among bankruptcy, foreclosure is one of the most devastating credit issues you can have in relation to future credit availability.

3. Possibility of Deficiency Judgment
Your lender can seek a deficiency judgment against you and collect any amount they do not recuperate at the bank sale.

4. Ineligibility for a Government-Insured Loan
You will be ineligible for a government insured loan for 5 to 7 years. Only 2 years in a short sale. Bucks County foreclosure is the one credit report item that is almost impossible to have repaired.

5. Negative in Employment Credit Checks
Many employers run credit checks on prospective employees. Foreclosure Bucks County PA is one of the top items that will put a potential new hire in jeopardy.

6. Potentially Damaging in Your Current Employment
Many current employers run credit checks. A foreclosure in Bucks County, Pennsylvania can put a current position in Jeopardy.

7. Negative on Security Clearances
Security clearances and government positions, including but not limited to military and law enforcement, can be jeopardized by a foreclosure. Revocation of security clearance can result in job reassignment or loss.

CONTACT US

Our experienced Bucks County short sale agent, Lori McGoldrick is knowledgeable in the entire landscape of foreclosure avoidance options and is distinctly qualified to negotiate with banks and help struggling homeowners regain peace of mind and a sense of stability for the future. Foreclosure situations tend to be extremely time sensitive. The sooner you start, the more options are available. So, don’t wait any longer and call us today!

 

Bucks County Short Sales

Lori McGoldrick
(267) 356-4777

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