By David Halpern, Louisville Short Sale Expert, (502) 664-7827 or 895-3100

If you are a homeowner with an “underwater” mortgage or an “upside” down house, please know that millions of Americans are experiencing the same confusing and stressful dilemma.

Please be aware that under many circumstances there are solutions favorable to you. You have options and there are answers to each one of the concerns listed below.

It is extremely important that you consult with a Louisville short sale Realtor who specializes in pre foreclosure situations.

I have compiled this list of concerns as a result of hundreds of consultations and kitchen table conversations with sellers in need.

Homeowners Lose Their House To Foreclosure Instead Of Avoiding Foreclosure With A Short Sale Because They Think They Have An Unsolvable Situation. Most of the Problems Can Be Overcome. Some of them aren’t even problems even though they seem to be.

  1. Their bankruptcy lawyer told them not to do a short sale, because it must be too good to be true
  2. Divorce lawyers drew up divorce agreements that cannot be fulfilled regarding payment of the mortgage
  3. Sellers thought they needed to pay Realtor commissions they couldn’t afford
  4. Thought they couldn’t sell it because the house needs work
  5. Because they have back taxes they can’t afford to pay
  6. Because they have delinquent HOA fees or condo fees
  7. They have two or more mortgages
  8. They have a home equity line
  9. Sellers believe there is equity in the house even though there really is not.
  10. Owner thinks they can rent the house to even if it doesn’t cover the mortgage
  11. Heard they have to pay taxes on the short sale
  12. Afraid the lender will pursue them for the deficiency
  13. Confused, needs time to think
  14. Don’t even know what a short sale is
  15. Thought a short sale is too good to be true
  16. Had a bad short sale experience with previous Realtor
  17. Overloaded with life events don’t know what to do
  18. One spouse wants to do a short sale but the other thinks they can beat the market.
  19. Seller wants to hang on so not to lose their down payment, even though values went down
  20. Bad experience with a loan modification, they don’t believe the lender anymore
  21. Angry at what they perceive to be abusive lender practices and they don’t care anymore
  22. Don’t think their bank will work with them because they’re so nasty, so they give up
  23. Think once they are served with the foreclosure lawsuit then it’s a done deal and they have to leave immediately.
  24. They get many conflicting or insulting scare tactic solicitations in the mail, they don’t know who or what to believe
  25. While they are trying to do a loan modification they get served with foreclosure papers
  26. Think no one will want to buy their house
  27. The foreclosure auction is already scheduled, the owner is afraid it’s too late
  28. Owners don’t have money to move
  29. Embarrassment, they think the “For Sale” sign will say foreclosure
  30. Hoping something will happen financially to save them
  31. Moving out of town, just abandon and walk away
  32. They are current on their payments
  33. They have savings, 401(k), retirement accounts
  34. Think the bank will take their cars and force them to sell every everything they own
  35. Think no one will rent to them and they will be homeless
  36. Borrow from friends, family, credit cards
  37. Have a tenant in the house, think they can’t sell while lease is in force
  38. Divorce, and one spouse isn’t cooperating
  39. Heard about a short sale but don’t understand it. Your regular Realtor said it can’t be done
  40. House is a mess, don’t want people walking through
  41. Too stressed to do anything
  42. Paralyzed with fear
  43. Think they have to move immediately
  44. Inheritance, heirs see no reason to go through the effort

Dear homeowner, if you are in a tough mortgage situation, please consult with a short sale expert Realtor. You have options, we can help. We understand your predicament and we care. We will give you all the time you need.

Submit Your Information Now or Call Us at (502) 664-7827

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