Q. What is insolvency when it applies to short sales?
Insolvency is when an individual’s liabilities exceed their assets. Simple enough. A test to determine your liabilities and your assets immediately before the cancellation of your debt will tell you if you are insolvent or not. .. .for a short sale, in most cases you must be insolvent.
Q: How long does the process of a short sale take from start to finish?
The short sale process typically takes between 3 to 6 months. Depending on the servicer of your loan. Typically we advise our clients not to expect an answer between 3 to 6 months.
We also assume responsibility for our clients as we assist them relocate when the short sale is completed. We will tell you when you should start looking for a property to move to. . In due time.
Q: Will I still owe my lender money after my short sale?
Part of our negotiation services includes trying to get the lender to forgive the balance owed after a short sale. We also incorporate the HAFA Program into this. We will work to get the lender to renounce the remaining debt, however there is no guarantee because of the number of factors involved and who are the players. . . In general, we will always ask to get a complete removal of any future deficiencies for all our clients.
Please watch our video “ Help, my home will be foreclosed soon. . can you help me?
Below you will find some of the properties we have closed or are currently active and under contract
Disclaimer For Short Sales & Loan Modifications: Herboso & Associates llc operating: www.Short-Sales-Expert.com, www.ReallyNiceHomes.com, http://ventascortas-shortsales.blogspot.com/, http://activerain.com/blogs/tigreroar ,http://www.trulia.com/blog/fernando_herboso/ is not associated with the government, and its services have not been approved by the government or the consumer’s lender. Your lender may not agree to change your loan and/or agree to a short sale. If you stop paying your mortgage, you could lose your home and damage your credit rating. You can stop doing business with Herboso & Associates llc at any time. You can accept or reject any offer Herboso & Associates llc obtains from your lender. If you reject the offer, you don’t have to pay the company’s real estate commission as outlined in the listing agreement. There is no guarantee you will get the results you seek from a short sale.Herboso & Associates llc does not provide legal advice. Seek legal counsel. Should you hire Herboso & Associates llc, you may still communicate with your own lender. Herboso & Associates llc and any of their representative agents will not charge upfront fees under any circumstances to the homeowner.
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