Underwater on Your Mortgage – Facing Foreclosure? Acuity Group Can Help!

Facing Foreclosure? Know Your Alternatives:

If you are behind on your mortgage payments or your mortgage is out of balance with your budget, and you want to avoid foreclosure, you’re left with a few options; Loan Modification, Deed in Lieu or Short Sale.

Loan Modification:

If you prefer to keep your property, a loan modification may be a good option for you. Loan modification is a process where the terms of a mortgage are modified. Mortgages are modified to benefit the borrower and may include; reduction in interest rate, change from a floating to fixed rate, reduction in principal, reduction in monthly payment, lengthening the loan term, etc. Some lenders require that borrowers first apply for a loan modification prior to be considered for a short sale – this varies from loan type and lender.

Deed in Lieu:

Deed in Lieu is where you cooperate with the bank to essentially transfer title (ownership) back to them, hand them your keys and walk away. Sounds easy enough but most banks may require you to at least try and Short Sale the property first. Many banks aren’t interested in owning more real estate which they will then need to sell.

Short Sale:

A Short Sale is selling a property for less than the balance owed on the mortgage, and the lender accepts a discounted payoff on the mortgage to avoid a possible foreclosure or bankruptcy.

As you are probably aware, Short Sales have become very popular over the past few years and have played a major role in our housing recovery. The main reason is that Short Sales offer many benefits to both homeowners and mortgage servicers. Foreclosure is timely and costly, so no mortgage servicer wants to foreclose. Some lenders are even offering generous Short Sale cash incentives to entice homeowners to Short Sale.

Benefits of a Short Sale:

  1. Leverage to Negotiate a Deficiency Waiver & Full Debt Forgiveness in Writing
  2. Helps You Start Over Quickly
  3. Avoids the Public Humiliation of Foreclosure
  4. May Have a Lower Impact on Your Credit Score
  5. May Offer Generous Cash Back Incentives 

Interested? Let’s Get Started!

The first step any homeowner should take when considering a Short Sale is to obtain a Market Value Estimate from a Real Estate Agent.   There are many significant factors to consider when listing your home as a short sale, so be sure to work with a proven professional who has a track record of successful short sale negotiations.  Acuity Group has successfully negotiated over 60 short sales since the housing market crisis and are considered Short Sale Experts!

Acuity Group’s Listing Agents are trained “Certified Distressed Property Experts” (CDPE) and work directly with lenders to negotiate your successful Short Sale at NO COST TO YOU!

Short Selling a home requires proper planning so don’t wait until you get a sheriff’s sale notice to attempt a Short Sale. Speak to Acuity Group’s experienced staff NOW to establish your plan of action and list your home for sale, before you are deep in foreclosure proceedings.

Don’t hesitate – take action NOW!   Click HERE schedule your free, no obligation Market Value Estimate!

Author:  Stephanie Danielson, Broker

“If you are thinking of buying, selling, renting your home, or leasing real estate this year I’d love to hear from you!  Working with an experienced professional can boost your profits!”

Acuity Group Real Estate Professionals

564 Dodge Ave Suite A

Elk River MN 55330

Office:  763-633-3535


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Property Management and Residential Rentals, Listing & Buyer Specialists, golf course properties, water front properties, acreage & hobby farms, condos & townhomes, association maintained properties, senior housing, luxury homes, vacation & secondary housing, CDPE (Certified Distressed Property Expert), Short Sale Specialist and REO sales & Investment property

Serving the following Minneapolis Cities & Suburbs: Elk River MN, Zimmerman MN, Big Lake MN, Rogers MN, Otsego MN, St. Michael MN, Albertville MN, Princeton MN, Ramsey MN, Anoka MN, Nowthen MN, Monticello MN, Oak Grove MN, Burns Township MN, Champlin MN, Dayton MN, Hassen Township MN, Coon Rapids MN, Blaine MN, Fridley MN, St. Francis MN, Livonia Township, Andover MN, Becker MN, Baldwin Township, Orrock Township, Plymouth MN, Maple Grove MN, Osseo MN.

Serving the following Minnesota Counties:  Sherburne, Anoka, Wright, Hennepin and portions of Isanti County




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