Long Island’s Major Broker for Short Sales
AND Avoidance of Foreclosure
Short Sale: Single Family Mount Sinai
Owner Owed over $400,000
Sale Price: $237,300
This Short Sale we Sold in Mount Sinai was completed while the owner lived in the home for 13 months without paying their mortgage or taxes. The owner had a total debt of over $400,000 with two mortgages on this home and walked away debt free. Real Estate agency fees, back taxes and closing costs were all covered by the bank and the seller was free from the first and second mortgage. In addition, the seller was able to receive thousands to cover moving costs!
Short Sale: Condo, Middle Island
Owner Owed over $250,000
Sale Price: $150,000
This Short Sale in Middle Island was completed and the owner was able to walk away from over $250,000 of mortgage debt. They also did not pay any mortgage or taxes while the Short Sale was being completed. Real Estate agency fees, back taxes, closing costs and delinquent common charges were all covered by the bank and the Seller was free from the mortgage. In addition, the Seller was able to receive thousands for moving costs and find a rental through a Broker for free!
95% Success Rate for Short Sales!
Long Island’s major broker for Short Sales and avoidance of Foreclosure
Home Foreclosures are still at record levels. The sub-prime mortgage crisis and its subsequent effect on the housing market has placed homeowners across Long Island in the precarious position of trying to get out from a mortgage they are finding difficult to pay, and suffering financial hardship as a result. With a home for which they owe more money than they can sell it for, they often feel trapped, pressured and without any viable options. If you can’t pay the mortgage on your home, then you risk going into Foreclosure, with all the stress and emotional cost, as well as financial cost, that that entails.
But there is an alternative – Selling your home via Short Sale. And we are the experts at achieving it for you.
Why Short Sale?
Banks really don’t want you to Foreclose. The Foreclosure process in New York is not only extensive, but the cost to Foreclose can be significant for Lenders. These costs include Insurance, Attorney Fees, Taxes, etc. It can cost Banks as much as $50,000 for a Foreclosure on your home. And you want an alternative to the grinding, humiliating process of Foreclosure, as well as a way to avoid incurring your own fees – even possible Bankruptcy. In addition, you would like to receive a sum of money to assist you to relocate. You also wish to limit the damage to your credit rating. Then you want to get back on track to becoming a homeowner again. All this can be achieved!
What is a Short Sale?
A Short Sale is when the Lender agrees to settle short of the value of the home, provided that you can demonstrate to the lender’s satisfaction that you cannot settle the debt in full. Your Lender will have their Loss Mitigation Department evaluate your circumstances. In the current Real Estate market, and considering your financial difficulty in meeting the deficiency, it is unlikely that a bank would not consider Short Sale to be the best option available to them. Like you, they don’t want to be embroiled in long, drawn-out Foreclosure proceedings. They will usually concede to bearing the cost of the shortfall. The good news is that it does not cost anything to you. The bank will cover all the fees, inclusive of commissions, and closing costs. And most Buyers like the idea of a Short Sale as well because most Short Sale transactions are sold under market value.
Why use us?
To achieve a Short Sale you will need the services of a Broker with the knowledge, experience and resources to negotiate on your behalf. You also need a Broker who will secure all their fees and costs from the Lender. So you pay nothing! You want a broker who will do all the work, prepare all the necessary documentation, and carry out all correspondence and communications with your bank.
So, if you are at risk of foreclosure, don’t delay, come to us for advice.
Who are we?
Fortune Realty is a leading Short Sale Brokerage on Long Island. With an emphasis on helping sellers of Short Sales preserve their financial future, we will act as your Short Sale Realtor and negotiator. Working with all the major banks and lenders, we facilitate the entire transaction without a third party and pride ourselves in helping our client’s complete successful Short Sales. We have assisted dozens of homeowners walk away from $100,000 to over $500,000 in debt on each transaction.
Deficiency Waiver & Moving Expenses:
We have never once closed a Short Sale without successfully negotiating with the lender to give up the right to pursue a Deficiency Judgment against the borrower. In many cases we are able to get the bank to pay thousands in moving expenses. As a FREE service Fortune Realty works with Landlords to find you a place to live after your home sells. You will also be enrolled into our Exclusive Buyer Repurchase Program.
Liens or Judgments?
Do you have a 2nd mortgage or even a 3rd mortgage? Do you have Liens or Judgments? Come to us. We will take care of everything. We have the expertise, knowledge and experience. Working together, we can find the right solution for you and implement it. With us, you always have an option and always have a choice. We represent sellers of Short Sales throughout all of Long Island. Always professional, honest, and diligent in the handling of all aspects of your transaction.
Call today for a free, no-obligation consultation on 631-320-0800!!
Only some of the Banks we have worked with: