There are programs which may be available to qualifying homeowners who are experiencing financial hardship. If you are unable to resolve your delinquency through other loss mitigation programs, we may applyfor short sale option(if available). If your house is currently worth less than the amount remaining on your loan (underwater), you may be able to sell your house in a short sale. The short sale process includes the sale of your home and settling your mortgage debt for less than the amount that you owe. Additionally, you may be eligible for financial assistance for moving, rental and other relocation expenses.
You may be eligible to sell your home in a short sale if:
- You have experienced a financial hardship, such as job loss
- You owe more than you house is worth
- You are unable to afford your current monthly mortgage payment
- You are unable to modify your current home loan
Step 1: Apply
Call HANS-ON REAL ESTATE, LLC @ 516-668-4300 to review your options.
Once you’ve decided a short sale is right for you, HANS-ON REAL ESTATE, LLC will send you a
Borrower Response Package (BRP), unless you opt to download the package from www.hans-on.com
Step 2: List Your Property on the Market
We recommend that you work with a licensed real estate agent, who can assist you in
the listing of your home. HANS-ON REAL ESTATE, LLC is a New York, New Jersey, Pennsylvania,
Connecticut and Florida state licensed brokerage firm and can assist in listing your home.
Step 3: Receive an Offer to Purchase your House
Once an offer is received, we’ll begin working to gain approval of your first mortgage
short sale request from all necessary parties.
If you have a second mortgage with a different lender, or any outstanding debts or
liens against the property, we will work to get settlement approvals from those parties.
Step 4: Approval
The mortgagee (lender) will determine fair market value of your home by ordering a property
valuation and reviewing recently sold homes comparable to yours in your local market.
Based on their findings, they may present us with a counteroffer if the original offer is
not in alignment with the fair market value of your home.
Step 5: Closing
If all parties agree to the terms of the offer, including the owner of your loan, your
short sale will be approved.