River North Short Sales| Negotiating Short Sales
When it comes to Chicago Short Sales and Suburban Short sales, there are alot of important information that individuals who are trying to short sell their homes need to know. Everywhere I turn I see advertising for Chicago Short Sales realtors who are "experts" in short sales and short sales negotiating.. And yes some of these real estate professionals actually do know what they are doing and can be characterized as experts in this field. While others have no idea what they are doing or let attorneys handle the leg work.
But the question is: How Much Negotiating Is Actually Done?
The Answer is: It Depends if seller has a Fannie Mae or Portfolio Loan
If a seller has a Fannie Mae loan and has Pmi, NO REALTOR can Influence whether Fannie Mae or the PMI company will accept the offer on a short sale!!!! There really isnt much negotiating to be done when dealing with these types of loans. The negotiating that can occur on these types of loans deals more with any money that needs to be paid back to the Pmi company or Fannie Mae the homeowner. Usually in the form of a unsecured loan that needs to be paid back over a certain amount of years.
If a seller has a has a Portfolio Loan (which means that your bank hasnt sold your loan on the secondary market yet i.e Fannie Mae,Freddie Mac) then a realtor Can Actually Negotiate A lot More With The Bank on your behalf to get the short sale approved
Dont lose your home to foreclosure! Let my Chicago Short Sales Team help you avoid foreclosure and the negative effects a foreclosure brings! From Chicago Short Sales to Suburban Short Sales, we have the short sales experience you need! Call or Email us now to schedule a Confidential consultation to see if a short sale will work for you!
Jim Kontos
President-Chicago Short Sales Expert-River North Short Sales Expert
Founder Of Kontos Short Sales Group
RE/MAX 1st Class
RE/MAX River North
Cell 630 327 9136
Office 847 674 9797
jpkontos@gmail.com
www.mychicagoshortsalesite.com
www.jkontos.illinoisproperty.com
YOUR CHICAGO SHORT SALES EXPERTS
