Short Sale

Do well by doing good

We deliver a real solution to property owners that can help eliminate mortgage debt, avoid foreclosure, and prevent eviction. Sapphire Investment Properties’ business model is straight forward. First and foremost, we charge you absolutely nothing for our services. Sapphire Investment Properties assists property owners who cannot reasonably afford to continue making their mortgage payments, and who owe more on their properties than the current market value.

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We can help you

You should always consult licensed professionals in those areas.

However, Sapphire Investment Properties will help you review the options and decide which path makes the most sense for you, at no cost to you. If you decide to pursue a short sale, we will provide significant assistance in the process.

We will help you compile a complete short sale package, including all the necessary documents that the bank will require, and we will negotiate the purchase price and terms with the lender.

Prevent a foreclosure and the subsequent eviction of the property owner. Negotiate with the bank to eliminate the property owner’s mortgage debt. Assume all costs related to listings and marketing. All costs related to the sale are paid by the bank. Providing assistance in finding a new place to live.

Sapphire Investment Properties does not offer advice or consultation regarding accounting, bankruptcy, or legal issues.

HAFA PROGRAM

Home affordable foreclosure alternatives

In February 2009, the Obama Administration introduced the Making Home Affordable Program(www.makinghomeaffordable.gov), a plan to stabilize the housing market and help struggling homeowners get relief and avoid foreclosure.

In March 2009, the Treasury Department issued uniform guidance for loan modifications across the mortgage industry and subsequently updated and expanded that guidance in a series of policy announcements.

HAFA is the only standardized short sale program adopted by multiple national lenders and servicers, including Fannie Mae and Freddie Mac, that includes mandatory debt forgiveness by all lien holders.

Documents Needed For Short Sale

In order to begin the short sale process, you will need to provide all of the following documents, as soon as possible:

  • Last mortgage statement
  • Last two bank statements
  • Last two years’ tax returns
  • Last two months w2 / 1099 or other proof of income
  • Signed 3rd party authorization form
  • Hardship letter in regards to specific address
  • Form 4506-T filled out and signed
  • Any Liens
  • MORTGAGE ASSISTANCE FORM

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Short Sale

Decrease Damage To Your Credit Rating

SAVE TIME AND MONEY

FREQUENTLY ASKED QUESTIONS

A short sale is a sale of property in which the proceeds from the sale fall short of the balance owed on the loan or loans secured by the property sold. In a short sale, the bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship on the part of the property owner in exchange for the sale of the property to a third party.

A short sale is typically executed to prevent a foreclosure. It is the sale of a home when the sale proceeds do not fully pay off the existing loan(s) and the lender(s) accept a discounted payoff to satisfy the loan(s). Lender negotiations are critical and require the expertise, experience and strong working relationships with mortgage companies and banks that are provided by short sale agents such as Sapphire Investment Properties Inc.

For you, the homeowner, advantages include avoidance of a foreclosure on your credit history. Having a foreclosure on your credit report is second only to bankruptcy and will substantially reduce your credit score. You may also have to wait several years to qualify for a mortgage again.

The impact of a short sale on your credit is much less severe than with a foreclosure. Also, if buying a home is something you’d like to do in the future, if you successfully complete a short sale, in most cases, you may again qualify for a mortgage in as little as 18 months.

A short sale is typically faster and less expensive than a foreclosure and when you use the agents at Sapphire Investment Properties Inc. to facilitate your short sale, there is NO COST to you.

The first step is to contact us and speak with one of our agents. Sapphire Investment Properties Inc. can, and will, assist you in understanding all of your options to avoid foreclosure. You’re not alone. Many distressed homeowners don’t know what to do, give up, and do nothing. That’s the worst thing you can do! You have other options. Let Sapphire Investment Properties Inc. assist you in understanding your options and negotiate with your lender on your behalf.
Absolutely not. All closing costs are offset by your lender.
As the borrower on the property, you must demonstrate true hardship.
A hardship situation is one that results from an extenuating circumstance that places you in the position where you can no longer afford your mortgage payments. Examples include:

  • Unemployment or the loss of a primary income source
  • Inability to work due to a health issue
  • Business failure
  • Bankruptcy
  • Death of your spouse or significant other
  • Moving and cannot keep up payments on two properties
Yes. Non-owner-occupied properties do qualify for a short sale.
For one thing, the property needs to be listed and sold to a third party. You need professional assistance to handle the sale. Plus, you only get one chance to negotiate a way out of foreclosure through a short sale process and it’s extremely important to have experience and expertise on your side to do it right. You wouldn’t go to court without an experienced attorney, why would you try to navigate the intricate process of a short sale without an experienced short sale expert on your side?
Whether a lender chooses to foreclose or agrees to a short sale, the lender is taking a loss. In many instances, lenders take less of a loss with a short sale, and can cut losses faster than what is required to foreclose. Foreclosure is usually a last resort for everyone. Remember, a lender is in the business of making loans, not owning and managing properties.
Immediately! Distressed situations are likely to be very time sensitive and negotiations take time. The faster we can begin negotiating with your lender on your behalf, the greater the likelihood of a successful resolution. You don’t have to wait until you receive a notice of default or notice that foreclosure proceedings on your home are underway. Contact us today! We’re here to help you.

Complete our Contact Us form or call us at 818-509-0900. We’ll answer all of your questions and you are under no further obligation.