Welcome to The Hanover Group at KW®
- You are or become ineligible for a refinance or loan modification.
- You are or will be very soon facing a long term hardship.
- You have fallen behind on your mortgage loan payments.
- Your home is worth less, then what you owe on your mortgage.
- You have not been able to sell your home at a price that would cover your mortgageloan(s) and the cost to sale your home.
- You are no longer able to afford your mortgage loan payment(s) and/or are ready to leave your home and have decided you will not be making any more mortgage
Benefits to a Short Sale:
- Eliminate your mortgage debt, before your mortgage lender is able to complete the foreclosure process.
- Avoid the potential legal, tax and credit impacts of a foreclosure.
- May be eligible for thousands of dollars in relocation assistance in some cases.
- A credit will typically repair more quickly with short sale, versus a foreclosure.
- May be able to get a new Fannie Mae and/or FHA home loan to purchase a new homesooner (in as little as 2 years), versus if you choose to go through a foreclosure (up to 7years) before you can get a new mortgage
How the Short Sale Process Works:
- Establish the best sales price (based on current market data and
- Collect your financial information and negotiate with your other lien holders (i.e. your second mortgage company, if applicable).
- Review all offers and assist you in selecting the most acceptable offer.
- Work with you and the buyer’s real estate agent to agree to acceptable price and terms.
- Open escrow, once price and terms are agreed on between you and the new buyer.
- During the escrow process The Hanover Group and its affiliates will negotiate the short
- sale on your behalf with all your lien holders in order to close your real estate