The Benefit of Short Sale to Homeowners

I Short Sale, Inc. acts on behalf of the property owner, negotiating with their lender to come to an agreement on a dollar amount that allows the lender to be paid and the seller to divest themselves of their home without having to face the long-term negative ramifications of foreclosure. It is a tricky proposition, to be sure, and one that requires financial knowledge, equal amounts of professionalism, expertise, and understanding.

“We are dealing with people in the most sensitive time of their lives, because their home is their most important asset, and they are faced with losing it,” said Tene. “You need to be very sensitive and knowledgeable throughout this process, and remember that this is not a situation where, if you don’t perform, someone might not be able to buy the house they want. Here, the risk is losing their house. The potential outcomes are of paramount importance. With our Fresh Start program, we offer them an opportunity to recover financially by working with the most informed, capable, and caring professionals in the business.

“We are the leaders of short sale processing company in the country,” he added, “and the key to our success is experience and customer service. Our staff of professionals brings with them hundreds of years of combined experience in this field, which is critical because doing short sales properly requires a particular kind of expertise. You have to understand the language lenders speak, the inner workings of the financials, and be able to package everything correctly. In many cases, title and foreclosure knowledge is required. It’s in a homeowner’s best interest to work with a team that can provide the kind of guidance and professionalism required of a successful short sale.”

Scott Sawyer, the company’s vice president of lender relations, was formerly at Citibank Mortgage, and jumped at the opportunity to use his skills and experience to make a positive impact on people’s lives.

“I chose I Short Sale because I spent 13 years working for large lenders, including running the loss mitigation department for Citibank Mortgage, and I had a desire to help homeowners directly,” said Sawyer. “I had noticed a lack of knowledge on the homeowners’ and agents’ side, and thought I could use my expertise to help them. This company has the borrowers’ needs in mind, and I appreciate that I am able to make a difference for a lot of people who otherwise might not have any acceptable options.”

A tremendous advantage for homeowners who choose to do a short sale is the ability to better safeguard credit. Once a homeowner falls
behind on house payments, their credit score has most likely been compromised, however a foreclosure is a black mark that remains for
up to 10 years and can affect a person's creditworthiness as negatively as a bankruptcy.

"A short sale, on the other hand, is reported as a settlement, which is far better than a foreclosure repossession," said Sawyer. "A foreclosure looks like a repossession on a credit report; a short sale does not impact credit anywhere near as drastically. Additionally, we have many cases of property owners who never stop making payments."