Short Sales

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.  Your best plan of action is to act now!  Listed below are three options to consider:

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.

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 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 trained, Certified Distressed Property Expert (CPDE). 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.  In fact, Acuity Group has successfully negotiated over 60 short sales since the housing market crisis and are Certified Distressed Property Experts!

Acuity Group’s Agents are trained and experienced experts that will assist you towards a 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.

Click the link below to get started!

Request Market Analysis


Acuity Group Real Estate Professionals
564 Dodge Ave Suite A
Elk River MN 55330
Office:  763-633-3535

OUR SPECIALTIES: Residential & Commercial Seller and Buyer Services, Property Management & Residential Rentals, Association Management, Residential and Commercial Investment Property Specialists, New Construction, Listing & Marketing Specialists, CDPE (Certified Distressed Property Experts), Short Sale Specialists, REO/Bank Owned Sales. Golf course properties, water front properties, acreage & hobby farms, vacant land, condos & townhomes, industrial/manufacturing/retail properties, association maintained properties, senior housing, luxury homes, vacation & secondary housing.

Serving the following Minnesota Counties: Sherburne, Anoka, Wright, Hennepin and portions of Mille Lacs and Isanti Counties.

You might also enjoy reading...

Short Sale Customer Review

Share This