•How will a short sale differ from foreclosure? Big difference!

Thank you for taking the time to research the possibility of listings your home as a short sale listing with Alex Hachem. We will need to work closely, together as a team, more than in any other type of Real Estate transaction. We need to be well prepared.

Our goal is to sell your home in order for you to go on with your life. Whether that means to relocate, move in to another property or for any other reason, this is OUR goal…and to salvage as much of your credit in the process.

Being that you owe more on your home than what it is worth today, these are your current options:

Option #1: Bring cash to closing in order to pay off your mortgage. No credit implications.

Option #2: Use a credit card/personal loan to cover the amount short to sell your property. No credit implications.

Option #3: Ask the mortgage company for a short sale approval, with a promissory note to re-pay the debt. No credit implications.

Option #4: Ask the mortgage company for a short sale, asking them to forgive your debt. There may be credit implications in this scenario as the bank could file a judgment for the money to be repaid. If the bank does NOT file a deficiency judgment, as sometimes it is too costly to do so, they will write it off. At the end of the year, you will receive a 1099C for the forgiven debt (or ghost income as some call it) and would be required to pay income tax on this amount.

Option #5: Not sell.

If you must sell and Options #1-3 are not favorable, we will need to do the following in order to move forward with Option #4.

Taking part in Options #4 will require the property owner to:

o Sign a listing agreement with Alex Hachem.

o Cooperate with the extended team of Alex Hachem /Short Sale company with all financial information requested.

o List the property for sale at the recommended price to sell quickly.

o Cooperate with access, showings, offers, and Realtors.

o Agree not to finance or otherwise encumber the property .

o Be responsible to maintain the home in "show" condition .

o Be responsible for minor repairs to the home.

o Be a responsible homeowner until close of title and vacancy of home.

Please read all of the documents on my website, so that you are well informed as there will be some difficulties and challenges working through this process.

If you are ready to talk further about getting your home sold, please don't wait and call Alex Hachem today at 404-844-3739. You can count on me to be there every step of the way.