What is a Central Ohio Foreclosure?
It’s time to regain financial control in your life…We Can Help.
If you are falling behind or facing Foreclosure, then a Short Sale could be the answer. You may even qualify for cash at closing to help you move. You have options, let us help. It’s free, so call 614-863-3344 today for a free consultation with an expert.
- Benefits of a Short Sale
- Mortgage Debt Relief
- Credit Restoration
- We Do All Negotiations with the Banks
- Up to $3,000 at closing
- All Services are 100% FREE
We can help you sell your house and avoid foreclosure. We specialize in financial distress. We can help you get back on the road to financial recovery.
Call for a free and confidential consultation
Call 614-863-3344 today and see how we can help!
Many People are Curious.
We get a lot of calls here at The Pacifico Group. Many people are in financial distress. They have heard wildly outrageous claims and they have tried dealing with their bank on their own. Here is a list of the most frequently asked questions about short selling.
What will a short sale cost me?
Your lender normally pays all the fees associated with short selling including: real estate commissions, Title and Escrow fees, back owed property taxes, ect....
Occasionally 2nd Lien Holders ask for a settlement of 5-10% of the balance to close their loans. . Your first lender will pay a portion of this settlement. If the settlement offered is not reasonable, you can terminate the short sale and have no obligation to move forward.
Are there hidden fees?
There will be no hidden fees. I promise!
Are homes selling?
Real Estate in Central Ohio is selling and buyers are excited to take advantage of current market conditions. I have terrific success in selling most of my properties for the best price possible.
What are the benefits of short selling?
Short selling is a proactive approach to solving the problem and taking control of your life. The goal of a short sale is to allow you to get out of the home that you can no longer afford with the balance of your loan being forgiven.
Will the bank come after me for the balance?
Most times, the lenders give complete satisfaction of debt and waive their right to pursue deficiency.
What if I have two loans or other liens?
We have had success negotiating the toughest liens on our client’s behalf, including many 2nd loans.
How long will it take?
From a few weeks to a few months, depending on the lender. The average short sale is 3 months from the time we receive an offer on your home. Our commitment to you is to work hard on your short sale for as long as it takes to get the job done.
Will it work on an investment property?
Absolutely! We negotiate settlements on residential rental/investment properties. Please make sure that you discuss your decision to sell with your tenant and ask them to cooperate with the process.
Why should I choose Mike Pacifico over another agent?
Specialization and experience. We make it our business to stay on top of any new developments with Short Sales and Distressed Property Sales. Because of our volume, we are intimately involved with the lender’s systems and processes. We also have in-house support staff to help handle the details.
What if I change my mind?
Cancel any time prior to 3rd party approval. We want what’s best for you!
Why would my bank take less than I owe?
After the bank evaluates your financial hardship, their choice is to take back via an expensive foreclosure or work with you on a short sale. Your lender loses less on a short sale!
How long does it take for my bank to foreclose on my home after I have stopped making payments?
Anywhere from 7 months to over a year.
What should I tell my bank if they call me?
Tell them you are working on a short sale and to please have their collections department NOT CALL YOU! It is against the law for them to harass you. Your lender may want to get the approval process going prior to finding an offer.
Should I keep making my mortgage payments?
This is a personal decision that homeowners struggle with. Many lenders will require you to be in “default” to process a short sale. You may want to call your bank and ask them about their policies. While I cannot tell homeowners to “stop making their payments”, my personal advice is as follows: if you make enough income to cover your expenses and mortgage, keep making your payments. If you are going into personal debt and/or depleting your savings/retirement…stop! You may wish to visit with an attorney, CPA, or Financial Advisor. I would be happy to refer professionals that I work with. There is also the Mortgage Forgiveness Debt Relief Act that your accountant should be familiar with. Google “Mortgage Forgiveness Debt Relief Act” for more information.