And not everyone can print money to bail out...
On the other hand, what's the point for the bank to foreclose on a property when it is worth less than the mortgage?
In today's market more and more people have properties that are 'upside down' and there are many advantages for both lender as owner to find common grounds.
That's what happened to Bobby A. who bought a beautiful white house in Windermere, Florida.
He could not pay the mortgage anymore and was facing foreclosure when he got a letter in the mail from MonkeySold.
He decided to try and use the solution offered in the letter and two weeks later an open house was organized with a bidding process on the house.
This resulted in a contract on the house that could be submitted to the bank for a short sale.
Short sale is a great solution for people facing foreclosure because in that case the bank does not need to spend money on the foreclosure process, nor does it need to buy back the property and maintain it to further sell it at a bigger loss.
More and more people are coming to MonkeySold for help.
We have developed a processing system that reduces the time to get a response from the bank on a short sale by 50 to 70%, says Timothy Swider.
Timothy, who is one of the leading partners in MonkeySold, has put his airline pilot training to work in the company. By creating checklists and standardizing documents and processes he has turned the administrative heart of the company in a well oiled production machine. With state of the art technology, powered by Apple, the company now processes 10times more short sale files than when it started 6 months ago.
The company will handle more than 200 short sale files a month and is ready to take on more.
What are the benefits of selling your home in a short sale?
Besides of avoiding the hassle, costs and fear of going through a foreclosure procedure there is a much greater benefit. People can stay in their home until the sale is closed and notice will be sent to the credit bureau agencies to report the mortgage as "settled for less than the amount due' On top of that there are no fees charged for the program as all related costs are paid out of the proceeds of the sale.
So why wait?
Get that Monkey of your back now and call 866 614 6993 or visit www.monkeysold.com
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