Chicago Short Sales & Avoiding Foreclosure

Why Lenders Accept Short Sales| Chicago Short Sales

So why would lenders take less than what they're owed?

Then answer is: ACTUAL COSTS
 

1) A Lender/Bank stand to Lose A Lot More Money when they foreclose on a property!

2) Some of the costs that a Lender/Bank have to take on during a foreclosure are:

Attorneys Fees
Court Costs
Legal Process Fees
Arrearages
Trustee Fees and Costs of Trustees Sale
Holding Costs
High Repair Costs

 It makes more sense for a lender/bank to chose a short sale when they are dealing with a Moderate Loss

 

Dont lose your home to Foreclosure

If you are someone you know is struggling with their mortgage and could be losing their home to foreclosure,

CONTACT US immediately! Let my experienced Chicago Short Sale team help you try and avoid foreclosure.  You have nothing to lose and everything to gain by contacting us for a completely Free and Confidential meeting!

 

Jim Kontos
President--Broker--Multi Million Dollar Producer----Short Sale Specialist
RE/MAX 1st Class
Cell 630 327 9136
Office 847 674 9797
jpkontos@gmail.com
www.mychicagoshortsalesite.com 

 

What Is A Short Sale Exactly?

So what exactly is a short sale you ask?

A SHORT SALE IS:
When a lender will accept a discounted or lower payoff than what is actually owed on the existing mortgage. Basically it means that a bank will take less than what is owed on your home. 

Lenders will actually negotiate a discounted settlement rather than see the property go into foreclosure. The ime period prior to the property going into foreclosure is know as:
Pre Foreclosure

Dont lose your home to Foreclosure! If you are someone you know is struggling with their mortgage and could be losing their home to foreclosure, CONTACT US immediately! Let my experienced Chicago Short Sale team help you try and avoid foreclosure.  You have nothing to lose and everything to gain by contacting us for a completely Free and Confidential meeting!

Jim Kontos
President--Broker--Multi Million Dollar Producer----Short Sale Specialist
RE/MAX 1st Class
Cell 630 327 9136
Office 847 674 9797
Office #2 312 643 2087
jkontos@remax.net




 

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