CAN'T AFFORD YOUR MORTGAGE PAYMENTS?
OWE MORE THAN YOUR HOME IS WORTH?
"Larracuente &Johnson Realty LLC is Here to Assist, Don't Worry Any More!
WHAT DOES IT COST?
ALL FEES INCLUDING BROKERAGE COMMISION, AND ATTORNEY FEES ARE PAID BY THE YOUR BANK AT THE CLOSING. OUR EXPERIENCED REALTORS WILL MOST LIKELY FIND A BUYER WHO IS WILLING TO BUY THE PROPERTY IN AS IS CONDITION AND PAYOFF OTHER JUDGEMENT, IRS, STATE TAX, CITY WATER AND SEWER LIENS. WE GOT YOU!!!
DOES IT HAVE TO BE MY PRIMARY RESIDENCE?
NO ANY TYPE OF PROPERTY CAN BE SOLD THROUGH A SHORT SALE.
DONT SETTLE FOR FORCLOSURE, WHEN YOU CAN SHORT SALE TODAY!
What is a Short Sale ?
When you sell your property for less than what you owe your bank(s). A short sale home is when the lender(s) on the property agrees to allow the homeowner to list, and sell the property for the current market/appraised value which, is lower than the amount owed on the mortgage. Even though it is not enough to pay off the mortgage loan(s) you can still walk away with your dignity. Homeowners, hope to sell their home as a short sale to avoid penalties associated with going into foreclosure. At the end of a short sale your bank will report the debt has been settled, and the negative credit reporting from your mortgage lender(s) STOP and you will be 100% debt free with your underwater mortgage. Short Sales are usually the best alternatives to foreclosure. Short sales allow homeowners to minimize financial damage, and move on from a burdensome, unaffordable mortgage. In many cases, short sales allow borrowers to qualify for a new mortgage in as little as two years, as opposed to five to seven years or more after a foreclosure. Short Sale is generally considered the most viable option for the majority of homeowners struggling with their mortgage. The following are some of the benefits of a short sale:
- Avoid Foreclosure at no cost to you
- Less impact on Credit Scores
- Security Clearance Protection
- No challenges to future employment
- Retain some control over the sale of your property vs. a public foreclosure auction
- The ability to negotiate away a deficiency judgment
- Shorter waiting periods to get another mortgage
Feeling Trapped By Your Mortgage?
If you feel like a prisoner to your home because of unaffordable mortgage payments, you should know you are not alone. Millions of Americans have found themselves in the same situation, and millions more will feel trapped before the mortgage crisis is over. You do not have to be a prisoner in a mortgage you can no longer afford. You have options available to you. We understand how your house can feel more like a trap than a home when you feel obligated to stay when dealing with unaffordable mortgage payments that you want out of. Fortunately, you have professionals on your side that are willing to help you out of this mess.
WHY USE LARRACUENTE & JOHNSON REALTY LLC.
Our team consists of highly experienced brokers who specialize in short sales - (pre foreclosure sales). We have approximately 10 years of short sale processing experience and have closed hundreds of short sales thus far with a 98% short sale approval rating. We can make the process very easy. If you chose to be discreet about your short sale; we have patient cash investors lined up who are willing to purchase your property in the condition it’s in. Most importantly, the buyer(s) are willing to wait until you have made all your moving arrangements.
We will also arrange for the buyer to payoff additional judgment, IRS, state tax, city water and sewer liens that are attached to your house. Our process is low key and often done without a for sale sign so that neighbors are not aware that the house is for sale. We will more than likely receive an offer within the first week, which avoids a plentiful amount of people going in and out of your house for extended lengths of time. Once you accept an offer; we take it off the market until you are 100% ready to move on or when your time in the house has officially run out due to a foreclosures sale date. We simplify the complex short sale process by working directly with your bank(s) on your behalf.
We will process all short sale applications and requested documents. We will inform you of all required paperwork, and we will process all documents directly to your servicer(s)/ mortgage lender up until closing. Larracuente & Johnson Realty LLC takes the highest regard while working with all clients.
Why is a Short Sale better than a Foreclosure?
In a Short Sale, the bank releases you from the loan. There is no further obligation to pay. Short Sale homes are still owned by the home owner. After a short sale, your debt will be considered paid in full or settled. You may qualify to buy a house FHA again within a short time after the short sale. There are many ways to lose a home but signing away ownership in a manner that destroys credit, embarrasses the family and strips an owner of dignity is one of the hardest, and that's what foreclosures tend to offer. For homeowners who can no longer afford to keep mortgage payments current, a short sale is an alternatives to bankruptcy or foreclosure proceedings.
In a Foreclosure, the bank can SUE you for the short fall. The bank(s) has 6 years to collect the full amount you borrowed, plus fees. As you rebuild your life and income, the bank can garnish your wages & seize money from your bank account.
Short Sale Specialists Accomplishments:
We have successfully completed countless Short Sales with almost every bank. We negotiated mortgage debt forgiveness. In every case, our clients have walked away owing the bank(s) nothing. We also specialize in lien settlement.
Canceled Debt & Mortgage Forgiveness for Owner Occupant Short Sales
Most individuals who short sale their home will not have to pay income tax on the amount of mortgage debt that was forgiven or canceled. The tax-free exclusion applies to canceled mortgage debt of up to $2 million (or $1 million is married and filing a separate return). There are additional details to consider to qualify for this tax exclusion. The house must have been used as a main home, which means it was the principal place of residence for the debtor.
Other Exclusions for Canceled Debts
You Will Most Likely Also be Exempt from Paying Taxes for Selling your Non Owner Occupied, Investment or Rental Properties by Short Sale. Besides the provision for mortgages on main homes, the tax code provides other ways that canceled debt can be tax-free. Canceled debts do not need to be included in taxable income if the debt was canceled if the individual is insolvent, or if the canceled debt was intended as a gift. The insolvency exclusion is particularly relevant, as it will likely apply to borrowers with home equity loans or mortgages on second homes and rental properties. This insolvency provision will prove helpful to individuals who don't otherwise qualify for the mortgage debt relief. To be considered insolvent, the person's liabilities must exceed the fair market value of their assets. This is will be especially true of borrowers who's properties have dropped in value and who now must restructure their loans or surrender their properties through short sale or foreclosure. "A debtor is insolvent when, and to the extent, the debtor's liabilities exceed the FMV of the assets. Determine the debtor's liabilities and the FMV of the assets immediately before the cancellation of the debtor's debt to determine whether or not the debtor is insolvent and the amount by which the debtor is insolvent." Please visit IRS.gov for more information on Debt Forgiveness or Insolvency.
LARRACUENTE & JOHNSON REALTY LLC HAS A HIGH SHORT SALE APPROVAL RATING WITH ALL BANKS!
Aurora, American Home Mortage (HMSI), ASC, Bank of America, Ditech Financial, Carrington, BSI, Bank of Fairfield, Bank United, Capital One, Citi Bank, Citizens National Bank, Community's Bank, Connecticut Bank & Trust, Chase / JP Morgan, Deutsche Bank, Essex Savings Bank, Fairfield County Bank, Farmington Bank, Seterus, First Bank of Greenwich, First County Bank, First National Bank of Suffield, First Niagra Bank, First Republic Bank, GMAC, Guaranty Bank, Guilford Savings Bank, HSBC National Bank, Hudson City Savings Bank, Hudson Valley Bank, Nationstar, Liberty Bank, Litton Loan Servicing, M&T Bank, McCue Mortgage, Milford Bank, Naugatuck Savings Bank, Naugatuck Valley Savings & Loan, New England Alliance Mortgage, New England Bank, Newport Federal Savings Bank, Northwest Community Bank, OCWEN, One West Bank, Patriot National Bank, People's United Bank, Provident, Quinnipiac Bank, Savings Institute, Select Loan Servicing, Shellpoint Mortgage, Simsbury Bank, SLS, Sovereign Bank, SPS, Stafford Savings Bank, Start Community Bank, TD Bank, Union Savings Bank, US Bank, Wachovia, Webster Bank, Wells Fargo and many more.