The Chicago Short Sale Team
@properties
Who Are We?
The Chicago Short Sale Team was formed by Kevin Van Eck of @properties in Chicago. Kevin and his team have helped numerous homeowners get out of bad situations and avoid foreclosure with their real estate and short sale transaction experience. Kevin holds the Accredited Distressed Property Representative (ADPR), the Broker Price Opinion Resource (BPOR), and the Short Sale and Foreclosure Resource (SFR) certifications. Kevin and his team have the experience, the resources, and the diligence to ensure that our clients have the best professional advice and opportunity to avoid foreclosure.
What is a Short Sale?
A short sale happens when a lender accepts less than what is owed on a mortgage balance, releasing the homeowner from the lien and ending the foreclosure process.
Why would I short sale my home?
There could be many reasons why you may be considering a short sale, but it is usually due to financial distress and the inability, or pending inability to continue paying their mortgage. There are many homeowners in this situation, whether it is due to job loss, divorce or other life-changing events, but we understand it is a sensitive and confidential situation. We treat all of our clients with compassion and confidentiality.
Will a short sale affect my credit?
A short sale will have an impact on your credit report and score as any late or missed payment on your mortgage is recorded, and your lender may report that your mortgage was settled for less than the full balance. However, a short sale has much less of an impact on your credit than a foreclosure. There may be tax implications from a short sale and a foreclosure, and we insist that any owner pursuing a short sale consult with their accountant or tax advisor.
Will I owe anything after the short sale?
Some lenders will release the lien on the property, but give themselves the opportunity in the future to try to make up the deficiency. Some lenders will release the lien and the deficiency, leaving the homeowner with a full debt release. This is our goal and we will always attempt to negotiate this.
Do I pay real estate commissions or closing costs?
The short sale lender will typically pay for most or all of the seller\'s closing costs. Any closing costs or fees that are not paid by the lender will be negotiated. Depending on the homeowner\'s financial hardship and assets, their lender may require the seller to contribute to the sale of the property in some way, but we always attempt to remove or significantly reduce that from the lender\'s request.
Do I receive any money from the sale of my home?
The short answer is no, and it is generally not allowed by the short sale lender. They typically reject any transaction where they know or believe that the seller is receiving funds from a short sale of their home.
What is the next step if I want more information?
Call Kevin Van Eck at 312-208-1430 or send an email to info@thechicagoshortsaleteam.com and we can set up an appointment to talk about your individual situation, and what the opportunities to avoid foreclosure and relieve yourself of financial stress may be. Be advised that you may be asked to provide personal information regarding your financial situation. This will be the same information your lender will require in a short sale transaction and it\'s a necessity if we are to fully and correctly advise you in your situation. Trust that all of your personal information will be treated with complete confidentiality. We look forward to meeting and talking with you!
The Chicago Short Sale Team
info@thechicagoshortsaleteam.com
Kevin Van Eck, ABR, ADPR, CHMS, CNE, GREEN, SFR
Cell: 312-208-1430
www.kevinvaneck.com
Zak Herman, ADPR
Cell: 312-835-6444
www.zakherman.com
@properties, Kevin Van Eck, Zak Herman, and The Chicago Short Sale Team are not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.
