TOP END Properties - The Future of Real Estate
Short Sale Your Home

West Haven, CT Short Sale Specialist
Receive an avg $3,000 for Relocation Assistance



For immediate assistance, TEXT or Call:
Phil Zimbardi
Short Sale Specialist

Short Sale Frequently Asked Questions

1. How much does a Short Sale cost?
.. There is no cost to pursue a short sale, and the lender almost always covers all the closing costs.

2. How does your company get paid to do a Short Sale?
.. We are a real estate broker and the lender allows for a standard real estate commission to be paid to us at closing.

3. What happens to the unpaid balance?
.. Most lender(s) will consider the debt settled and waive their right to pursue any remaining balance. The lender will issue a 1099 (gifted income) at the end of the year which you're tax preparer must include. You should discuss any tax implications with your tax advisor and ask about possible tax waivers like insolvency. We have not had a tax advisor recommend a foreclosure to a client over a short sale.

4. How long does a Short Sale take?
.. The timeline can fluxuate greatly. If everything goes our way, it can be as little as 3 months. If the bank gets a high appraisal and we can't get a matching offer, then it could take over a year.

5. What if I have IRS tax liens and/or credit card liens?
.. We can also remove IRS liens and credit card liens to allow the sale of the house. However, the IRS debt will still be owed.

6. Can I get money at the closing?
.. Most lenders will allow $3,000 for relocation assistance, and he have had several borrowers get over $20,000 (upto $35,000). This is however completely upto the lender. It is not a negotiation, they will notify us during the process if their is an incentive.

7. Should I move out right away?
.. No. A vacant property can sometimes disquality you for a short sale. Lenders expects the home owner to maintain the property (grass, snow, heat) during the sale process to fetch fair mark value. Also if a lender sees it is vacant, that gives them an easy opportunity to weigh the costs of a faster foreclosure without any eviction costs.

8. Do I have to miss a mortgage payment to qualify?
.. In many cases no. It's advised to pursue a Short Sale immediately upon determining that you will not be able to keep the house, now or in the future.

9. Why shouldn't I just let the house take the house in Foreclosure?
.. Foreclosure is the absolute worst outcome possible and can usually be avoided. Even after a foreclosure, the borrower still owes the bank for their loses and they will get a deficiency judgement to pursue ongoing collections. Many borrowers then file for bankruptcy. Foreclosure and Bankruptcy are the worst hits to your credit and will be on the report for 7+ years. There is a lot of stress that comes along with not being in command of the process and just waiting for the bank to take the house. Many people will live constant fear for years avoiding calls and door knockers. All of this can be avoided by taking action immediately with a cooperative Short Sale.

Mortgage Lenders, Banks, and Loan Servicing Companies

Bank of America Bayview Loan Servicing Citi Fannie Mae HSBC JP Morgan Chase Ocwen McCue Mortgage Select Portfolio Servicing (SPS) US Bank Wells Fargo

  1. Bank of America (BOA)
  2. Bank United
  3. Bay View Loan Servicing
  4. Citi Bank
  5. Citizens National Bank
  6. JP Morgan Chase
  7. Deutsche Bank
  8. Federal IRS
  9. Fifth Third Bank
  10. Seterus
  11. First Niagra Bank
  12. First Republic Bank
  13. Guilford Savings Bank
  14. HSBC National Bank
  15. Liberty Bank
  16. M&T Bank
  17. McCue Mortgage
  18. Ocwen
  19. One West Bank
  20. People's United Bank
  21. Savings Institute
  22. Select Loan Servicing
  23. Shellpoint Mortgage
  24. SLS
  25. Sovereign Bank
  26. Select Portfolio Servcing (SPS)
  27. TD Bank
  28. Union Savings Bank
  29. US Bank
  30. Wachovia
  31. Webster Bank
  32. Wells Fargo

We Short Sale Houses in West Haven, CT
City Zip Codes
West Haven 06516

TOP END Properties is not associated with the government,
and our service is not approved by the government or your lender.
Even if you accept this offer and use our service, your lender may not agree to change your loan.

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