Marketing Your Home For All It Is Worth!

The Heritage Homes Real Estate Team has the Solutions, Experience and Organization that can eliminate your home mortgage debt problems, help protect your loan worthiness and allow you to get on with your life in a dignified and hassle free manner - A Short Sale can Provide you with Real Mortgage Forgiveness Debt Relief. We are one of the leading Short Sale realtors, and Our Services are FREE to You. 

1 out of 6 Massachusetts Homeowners are upside down on their Mortgage.

You are not alone... Due to the poor local real estate market in Massachusetts, and the nationwide Mortgage loan crisis, many Massachusetts homeowners find themselves unable keep up with their increased mortgage payments, and many times the mortgage loan debt is more then the home is worth... in other words - No Equity left in the property. Many home owners are unable to modify the loan, nor re-finance the home. Unfortunately, many homeowners give up, because they think there is nothing they can do to stop the Foreclosure of the home. Well, there IS something you can do that's far better then a Foreclosure... it's called a Short Sale. In addition, the Federal Government has created the new HAFA Short Sale Program in order to help to prevent Foreclosure.

What is a Short Sale ?

In simple terms, a short sale is transaction in which the bank(s) accepts a discount on their mortgage to allow a sale, and thus avoid foreclosure or bankruptcy. For example: A homeowner, who is facing foreclosure, has an existing first mortgage of $500,000. The market value of the home is $350,000. The Mortgage Bank agrees to wipe out $150,000 in mortgage debt, and accepts the offer for $350,000 and the home is sold. In actual practice, a Short Sale is the most complex of all Residential transactions, so make sure you work with seasoned professionals.

Today many Massachusetts Homeowners are choosing a Short Sale to solve their Morgage Loan crisis.

During a Short Sale, our Team of experts negotiate with your mortgage Banker(s), on your behalf. Utilizing our expertise and vast experience, we are able to convince the Mortgage Bank(s) to reduce your loan balance on the home, in most all cases. This allows us to then sell your home quickly to another Buyer, versus allowing the Bank to Foreclose on the property which would ruin your credit, possibly leave unpaid debt, and cause undue embarrassment. You may ask yourself "Why should I care, for I have no more equity left in my house ?"... Well, the fact is there are several important reasons why a Short Sale is far better for you compared to Foreclosure... Here's why:

What are the Advantages of a Short Sale ?

1.) Less Damaging to Credit Rating: A Foreclosure will severely damage ones credit rating for 7 years, but a Short Sale is less damaging and its effect does not last as long.

2.) Major Banks are Encouraging Short Sales over Foreclosure: Fannie Mae (FNMA) recently changed their underwriting policy so that a past home owner now has to wait 5 years after a Foreclosure before FNMA will underwrite a new loan. If the homeowner conducted a Short Sale the wait time is just 2 Years! Freddie Mac also offers participating Banks a $2,200 incentive to conduct a Short Sale versus Foreclosure.

3.) Probable Relief from HELOC 2nd Mortgage: When the 1st Mortgage Bank forecloses, the 2nd TD HELOC loan is not deleted from your debt. The 2nd TD HELOC Mortgage Bank may take legal means to collect their debt after the Foreclosure. With a Short Sale, we negotiate with both lenders to highly reduce or totally eliminate the HELOC loan debt.

4.) Dignified Solution: With a Short Sale, we sell your home just like your neighbors have done. It’s a dignified resolution to a tough situation. On the other hand, after a Foreclosure, a Sheriff performs a lock out, the grass turns brown, and a Bank Sales Rep places 'Bank Foreclosure For Sale' signs in front of the property for your neighbors to see.

5.) Much Shorter Delay to Renewed Loan Worthiness: We have established an association with a National Credit Restoration firm. This firm has been able to make major improvements to the credit ratings of our past short sale clients, within months. But they have extreme difficulty in making improvements to damaged on credit reports resulting from Foreclosure.

6.) "Cash for Cooperation": Some of the banks we work with are now offering home owners a Cash incentive in order to Cooperate with a short sale, versus allowing the property to be Foreclosed on by the Bank. Which Banks and amount of Cash offered, is on a case by case basis.

Time is of the Essence.

If Foreclosure proceedings have started on your home, then you may have less than 3 months and 3 weeks before your home is sold at the public Foreclosure Auction on the courthouse steps. Now our team of experts can almost always get the foreclosure postponed, but only if you call us. Please don't hesitate, or sit in hope that your financial fortunes will significantly change in the near future. We're here to help you prevent Foreclosure using a dignified short sale solution.