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Do not Short Sale Your Investment Property or Let it be Foreclosed!
If you find yourself in the midst of a foreclosure or short sale on an investment property, you need to get on top
of this now. You will be faced with seriously degraded credit and a deficiency judgment. Depending on your state you can have anywhere
from a few days to a year before the foreclosure is completed.
Foreclosure or short sale on an investment property comes with great risk to your credit
for years to come. If you are facing a foreclosure, please
read in great detail what we can do for you. If you feel that
is not for you, contact a real estate attorney now! You do not
want to let this go.
If you have a non-performing investment property and you think your only solution
is to short sale, we have a better solution. A short sale on
any commercial, multi unit, retail, office, etc, will most likely
result in a deficiency judgment against you. This can keep you
from buying more investment properties for years, until you can pay
off the judgment or work out a settlement.
Depending on what state you are in, state law will dictate if a deficiency judgment will
follow. In some states, if you own a single family
rental unit or a duplex, you can avoid getting a judgment.
Arizona is one of those states. On the other hand, it you live
in Florida, they can pursue any property for a deficiency.
Commercial property is the most likely type that a bank will pursue the deficiency
judgment. You can find yourself owing a lot of money after the
sale or foreclosure.
There is not a lot of information on commercial real estate and the pitfalls of a short
sale or foreclosure. But, there are many people pushing the
commercial short sale methods for their own gains and your loss.
We are the only organization that is trying to save you from a short
sale or foreclosure through the
Mortgage Amelioration Program. So, it becomes your choice... their gain,
your loss - or - our gain, your gain.
Whatever you do, do your best to avoid short sales and foreclosures.
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