Eric Can Help You Stop Foreclosure Now- Get Short Sale Approved!

Are you in foreclosure and want to learn how to stop foreclosure now?  We’ve created free online guides to help homeowners just like you find out your options on getting out of the sticky situation you’re in right now.

• Behind on payments? Can’t get caught up?
• Upside down on your mortgage?
• Want to save your credit from a foreclosure?
• Don’t fall for the “Loan modification” scam

Eric is Your Foreclosure Specialist

Are you in foreclosure and want to stop it now? Eric Buys Homes in York created free online guides to help homeowners just like you find out your options and get you out of the situation you’re in right now.

We are here to help. You aren’t the first person to go through a foreclosure… and won’t be the last.  So don’t feel ashamed. It happens.

The best thing you can do right now is to educate yourself on your options.  For some people selling your home is the best option (we’ll make a fair all-cash offer on your house today, just let us know about your situation here <<), sometimes we’re able to help homeowners STOP FORECLOSURE completely, and sometimes there are other options.  So, click one of the buttons above to get your free foreclosure guide.

Short Sale Frequently Asked Question

What Is A Short Sale?

A short sale is the sale of a property for less than what the owner still owes on the mortgage. A short sale is an alternative to foreclosure when a homeowner needs to sell and can no longer afford to make their mortgage payments. The lender agrees to accept less than the amount owed to pay off a loan now rather than taking the property back by foreclosure and trying to sell it later. Lenders agree to a short sale because they believe it will net them more money than going forward with a lengthy and costly foreclosure process.

Can Anyone Effectively Handle My Short Sale?

In a nutshell – NO! A short sale is a very complicated real estate transaction and one that has very important implications for you. More than any other type of residential real estate transaction, a short sale should be handled by negotiators like Eric Gunnet who have substantial experience with the process, and a strong track record of success in negotiating short sales for their clients. You wouldn’t have your family doctor perform heart surgery, and you shouldn’t expect any real estate agent to be qualified to handle this highly complex transaction for you.

Why Should I Choose A Short Sale Over Foreclosure?

Whether you should do a short sale or let your property go to foreclosure depends on several factors. In most instances, a short sale makes more sense than foreclosure. In general, when you want to obtain a loan to purchase a property in the future, more opportunities will be available to you if you do a short sale. And, contrary to popular belief, you can be current on your payments and still do a short sale. In fact, if you are current on your mortgage through a short sale, you can qualify for an FHA loan afterwards without any waiting periods. The same option will not be available following a foreclosure.

Doing a short sale will prevent your credit from being negatively affected by a foreclosure. Also with a short sale you are in control of the sale – not the bank.You may sleep better at night knowing who is buying your home, and you can spare yourself the social stigma associated with foreclosure.

How Do I Know If I Qualify For A Short Sale?

If you owe more than your house is worth and can’t afford your mortgage payments, you will most likely qualify for a short sale. Every situation is unique, but in general the basic criteria to qualify for a short sale are:

• You need to sell your home
• You owe more on your mortgage than your home is worth
• You have a personal financial hardship that is preventing you from making your mortgage payments. (Examples of financial hardship include loss of job, divorce, death of spouse, medical emergency or illness.)

When calculating if your house is worth less than the amount owed on the loan, you should deduct out what you would pay in real estate commissions, closing costs, and transfer taxes to sell your home.

Will I Get Any Money From The Sale?

Probably. We always try to negotiate up to $5,000.00 in relocation assistance to the homeowner. It is not guaranteed, but we have an excellent track record at getting this financial help for the homeowners we help.

How Long Does A Short Sale Take?

The short sale process is complicated and time-consuming. It can take several months, or even up to a year, to get a short sale approved. Many lenders have several layers of management, insurers, and investors that will have to be satisfied before a short sale is approved. As a homeowner, it is important to be patient during this long process. It is also critical that you keep open lines of communication with us to ensure that the process stays on track.

Is There Enough Time To Do A Short Sale Before A Foreclosure?

Yes. Just starting a short sale will not automatically stop a foreclosure. However, many times a lender can be convinced to postpone the foreclosure to let a short sale negotiation to take place. This creates a win-win situation for everyone.

I Have More Than One Mortgage On My House. Can I Still Do A Short Sale?

Yes. Each mortgage can be negotiated individually. However, multiple mortgages make a short sale more complicated and time-consuming. Not only do you need the cooperation of the first lender, the second mortgage holder needs to agree to a short sale as well.

Watch our video for more info…