Areas of Practice

FORECLOSURES

 

No homeowner purchases a property with the intention to be in foreclosure in a few years but unfortunately life changes has forced some homeowners into that very situation that they fear.Whether it was the loss of a job, a death in the family or even a divorce, millions of Americans find themselves in foreclosure.Banks grant relief from foreclosure through short sales for two specific reasons: the seller has a hardship, and there is not enough equity in the home to pay off the mortgage after paying costs of sale.

A Few Examples of Hardships Are:

Unemployment/reduced income/Divorce /Medical emergency/Job transfer out of town/Bankruptcy/Death

Finding the right assistance when you’re already in a difficult situation can take its toll. To ensure you avoid foreclosure, our job is to examine all your debts and negotiate payment terms.While there are other options to foreclosure a short sale is the best solution. Some homeowners try to work with the banks in doing a loan modification whereby they change the repayment terms of their mortgage. When you consider a loan modification there are several factors to consider:

Getting approved: working to get approved for a loan modification is a long and arduous process. A lot of times, homeowners can not afford to pay for attorneys to complete the process and that means handling everything on your own from start to finish. The process of a loan modification can take anywhere between 60 to 90 days and the loan modification process does not stay or stop the foreclosure process.

Completing the trial period: if the bank considers and approves your request for a loan modification your next step is making payments. Some banks require a 3 month period whereby the homeowner needs to make three consecutive payments. After the third payment, the bank reserves the right to review your file one final time before finalizing your modification.

Sustaining Payments: Some homeowners go through the tedious process of completing the process and getting approved only to be given a new mortgage amount that is still too high. Most homeowners begin paying the new monthly payments with many finding themselves repeating the same cycle and falling deeper into debt a few months later.

Another alternative is a deed in lieu of foreclosure whereby the homeowner conveys all interest in a property to the mortgage company to satisfy the loan that is in default. With a deed in lieu, the homeowner would work out a move date with the mortgage company as well as the release of the debt. However, with a deed in lieu the borrower is not always free from all obligations or liability. Most states do not have laws that prevent a mortgage company from obtaining a deficiency judgment after the completion of a deed in lieu. To avoid that occurring, the deed in lieu agreement must expressly state that the transaction is in full satisfaction of the debt.

Call or chat with us so that we can provide the information that you need to come to the right decision.

SHORT SALE

 

The term “short sale” sounds like a bad thing. Or at least confusing. With TOP HOMES REALTY it doesn’t have to be either of those.

Simply, a short sale is an option that you have when you owe more money on your home than it is worth. Or if you’ve fallen behind on your mortgage payments. If you are “under water” like that, the bank will sometimes threaten to foreclose on the loan. As a result, you hear on the news about people losing their homes.

No one would ever choose to be in that position. But it does happen, sometimes through no fault of your own. That’s when a short sale can help. A short sale can help you wipe away your debt and start over.

A short sale is designed to allow a homeowner to walk away debt free and it is a great alternative to foreclosure. In the short sale process we work with you to:

Decide the best course of action: after discussing the exact financial situation we make a plan that will help you walk away debt free.

Receive legal representation: to ensure you are protected throughout the process you will have a legal team that works on your behalf and the expenses are covered by your mortgage company.

Settle your debt for less than what is owed: Our specialists work closely to reduce not only the value of the mortgage that is owed but to settle all other liens that are outstanding against your property.

Postpone your pending foreclosure: If your property has an upcoming sale date against it and is slated for public auction, our main goal is to stop that sale and give you the time you need to complete a short sale process and pay off your debt.

There are no fees associated with the short sale process. And as an incentive to help you relocate, some banks even offer a relocation fee. Our skilled agents are standing by ready to assist you through the transition. Short sales are not everybody’s cup of tea. Work with a team that is specialized in your area of need.

Immediately call to speak to a representative. Take the opportunity to be free of debt and get a fresh start at life.

ESTATES / SURROGATES

 

When a relative passes away, the magnitude of that loss, is sometimes the only thing that is given attention. The grief consumes in an unimaginable way and many times the relative who is tasked with the responsibilities of distributing the estate is unsure of where to start and what to do.

At TOP HOMES REALTY we deal with many families that find themselves heirs to an estate that includes a property. Some cases can be simple; the relative may have left a will detailing who the beneficiaries are, while in most instances no will is left behind and the situation becomes complicated.

Our end goal is to assist the family through a time of extreme difficulty. We work at your pace, giving you the time that you need to come to terms with your grief while simultaneously ensuring that the estate is distributed with respect to the wishes of the deceased or by equally splitting up the proceeds from the estate in relation to the property.

Whether you have a will that has yet to be probated with the threat of foreclosure looming or no estate has been started, we can work with you to complete the surrogate process and pay off whatever debts are outstanding.

READY TO SELL?

 

One of the greatest things about working with TOP HOMES REALTY is that we are the direct buyers for your property. Having a direct buyer who is ready to pay top dollar allows for the process to be handled in a more efficient and in timely manner.While you may be able to get a higher “top line” sales price listing with a local agent, that doesn’t always get you more money in your pocket or less stress.If you want to sell your house in the fastest, easiest and most convenient manner, see details below and compare your options!

Sold to: Top Home Realty

Commission/Fees: NONE

Closing Costs: NONE – We pay all costs

Inspection & Financing Contingency: NONE

Appraisal Needed: NONE – We make cash offers

Average Days to Close: IMMEDIATE CASH OFFER

Number of Showings: 1 (Just Us)

Closing Date: The Date Of YOUR CHOICE

Who Pays for Repairs?: NONE – We pay for all repairs