JUDICIAL SHORT SALE

1. What is a Judicial Short Sale?

A real estate Judicial Short Sale is where we negotiate with you lenders to accept a pay-off that is less than you currently owe and you do not have to pay the difference.

A Judicial short sale is the process by which homeowners can leverage the bank to settle the debt of their home for less money than they actually owe on the mortgage(s), even if after the bank has closed the door. This is accomplished by demanding the bank to Validate the Debt in a Federal Court hearing and through an Administrative Legal Default Process. Upon initiating & consummation of our litigation process the mortgage is satisfied and any foreclosure process stops. Court approves the discount or settlement of the mortgage (debt), the home can be re-sold to the home owner for a 75% price reduction lower than the current market value.  Home owner does not pay any upfront fees, does not have to come up with cash to cover the shortfall, and the legal cost our absorbed by our firm on a contingency bases.

2. Why would a bank or mortgage lender want to cooperate with a Judicial Short Sale?

They have no other choice. When the bank cannot validate the debt and or has been found guilty of Fraud, Misrepresentation, SEC Violations, State, Federal Violations, the Federal Judge needs to make a decision and or settle the debt.  Once the bank’s attorney is limited to certain legal perimeters such as a “Discharge the Debt or Settle at Cents” and the banks smoke screen has been removed (MERS), then they have strong incentives to get rid of the Judicial Actions and get settle with home owner even if the debt on the properties is discounted.  

4. Are Judicial Short Sales guaranteed to work?

Yes. It keeps you (us) in control, we Tender the amount needed to settle the mortgage debt. Homeowner does not pay us until we get the debt discharged or settle. You do not have to qualify to the bank holding your mortgage.  

5. How long does a Judicial Short Sale take to complete?

From a few weeks to several months.   

6. Will the banks negotiate on price?

No, they will need to settle with you.

7. Who pays the real estate commissions on a short sale?

We do……………….such as in a standard sale, commissions are subtracted from the seller's funds and paid out of escrow to the Realtors.

8. What is Required for a Real Estate Judicial Short Sale?  & Who can Qualify for a Real Estate Short Sale?

 Home owners in default on their mortgage loans and are headed for foreclosure (facing Trustee Sale in 30-days or sooner). During the Judicial Short Sale period, you will need to provide the minimum following documents: 

1. Drivers License

2. Most Recent NOD & NTS.

3. Loan Documents, Deed of Trust, any Grant Deed, Current Mortgage Coupon.

4. All documentations & agreements executed.