Illinois Short Sales, Illinois Loan Modifications, Stop Foreclosure
This Site Was Developed By A Certified Short Sale & Real Estate Expert To Help Homeowners
Why this site was created
After working with many homeowners who are in a distressed situation and possibly facing foreclosure, I have found that many people are hesitant to ask questions initially about Short Sales, Loan Modifications, Foreclosures and many other inquiries surrounding these concerns because they do not want to be flooded with solicitations.

I developed this site as a general answer and question format so that you can get general questions answered and still remain somewhat anonymous. When your ready to make a decision on what your next step is you can contact us at (708) 364-5523 or (815) 301-7007.

There are many different scenarios regarding a Short Sale, Loan Modification and Foreclosures so please be as specific as you can in regards to your question. I am not an attorney, a CPA and can not give legal advice or advice in regards to your taxes. You should seek cousel from the appropriate professionals in that capacity.

I prefer to talk to you in person and get a better idea of what your situation is as my advice will be more effecitve. This site is designed so you can get general questions fairly quickly and than decide later if you wish to pursue one of your options that I supply.

This site is completely free and it is designed to help you learn what your options are without getting flooded with phone calls and solicitations from other professionals.

Who Am I
I am a certified Home Retention Consultant and Short Sale Specialist working at Re/Max Team 2000. I have helped and advised many home owners and provided different resolutions for these homeowners to stay in their properties and/or sell their property at no cost to them financially. You will never hear me ask for any up front fees and in almost all cases you will not pay me anything for my services. In a Short Sale transaction you will not be responsible for the commission, legal fees, title costs and other typical seller costs.

Not all the options I provide will be for everybody. I lay out your options and if you choose to excercise one or more of them I will be happy to assist you as long as it is within my capabilities.







Ask A Question About Short Sales & Foreclosures
Fill in the form below to ask any questions you may have in regards to a Short Sale, Foreclosure, Facing Foreclosure, How To Stop Foreclosure, Loan Modifications, The New Obama Stimulus Package any question related to Real Estate You Might Have. It's FREE and easy to use.

We will only contact you through your email to answer your question, clarify a question, give you additional information about your question and the website or to follow up with you on updated information regarding your inquiry. It is best if you provide as many specifics as you can to help us answer your question effectively.

If you want to talk in person call Raymond Kennedy at (708) 364-5523 or (815) 301-7007.
Name:
Email:
Question:

By clicking on the above button, "Ask A Serious Question", you understand that Raymond Kennedy of Re/Max Team 2000 is a licensed real estate agent and has disclosed that he is not an attorney or a certified public accountant.  You agree and understand that you have been advised to consult with any of these professionals with regard to any specific questions you may have relative to these areas of expertise. You agree and understand that the design of this site is to help you with general questions pertaining to the various subject matters and not to provide an overall decision on what to do. It is suggested and advised to setup an initial consultation with me before making any final decisions on what options you should take. Every situation is different and in some cases the solution can be multiple methods to facilitate and expedite the resolution of your distressed nature. You also should understand that I am a Real Estate Agent for Illinois I can only give advice within the boundries of my state. If you are not from Illinois you will need to verify all data to be assure it is applicable to your state.


General Short Sale, Loan Mod & Foreclosure FAQ
  1. What is a short sale? A short sale occurs when the proceeds or a real estate transaction fall short of the balance that is owed on the property. This process does need to be approved by the mortgage lender or bank of the borrower. Typically the mortgage lender or bank will agree to discount a loan balance due to a financial and/or economic hardship of the buyer. This is done in many cases because the bank may see this as less of a loss than if they were to foreclose on the home.
  2. How do I qualify for a Short Sale? First you need to be able to convey to your lender that you have a valid hardship. The hardship will have to clearly show that you can no longer make payments now or in the near future. Your property plus costs will need to be valued less than what is currently owned on the property. There are many other variables to consider when you are determining if you are qualified for a Short Sale so a FREE in person or over the phone consultation maybe necessary. It's not for everyone so be sure to talk to a knowledgable Short Sale Consultant before moving forward.
  3. Do I have to be late on my payments to QUALIFY FOR A Short Sale? Absolutely NOT! I say that so emphatically because there are many professionals out there giving bad advice and letting thier clients know this is the only way to get a Short Sale done. I have heard other Realtors, attorneys and even the lender tell them this. Just understand when the Sheriff shows up on your door, not one of those professionals giving you that advice will be there to help you.
  4. What is considered a valid hardship? This is a tough question because everytime I think I have them all listed I get a call from someone that has a scenario that is a valid harship that I never thought of. Below is a list of some common hardships. Pretty much a hardship is anything that has a caused a financial burden in your life. Some types: divorce, bankruptcy, loss of a job or business, reductioin in pay, increased cost in lifestyle, lawsuit, adjustable mortgage rate increasing, illness or injury, death in family or unexpected medical expenses. If you have a question about a potential hardship fill out the form above and ask, we will respond back to you with 24 to 48 hours with our thoughts on your possible hardship.
  5. Who can represent me in a Short Sale? A licensed Reatlor in your state is the only person that can represent you in the real estate transaction. Attorneys will play a role in this transaction as well to some extent depending on the knowledge base of your Realtor. While any real estate agent can represent you this doesn't necessarily mean every Realtor is qualified or holds the necessary expertise to successfully close a Short Sale transaction. This is very much a specialty and should be performed by a Certified Short Sale consultant.
  6. Loan Modification or Short Sale? Before taking any Short Sale listing I pre-qualify the homeowner/seller to see that their best options are. Sometimes this is staying in the home and possibly doing a loan modificaiton, sometimes it's a Short Sale and sometimes it's both. If you are on borrowed time and are more than 31-61 days late on your payments, don't risk it, you should prepare and get ready for one of the above option or both. In some cases having the property listed as a Short Sale may help convey to the bank you are serious and they may put more of an effort into the Loan Modification. In some cases a loan modification is only a temporary fix & you still may need to do a Short Sale.
  7. How will the Obama Stimulus Package Help? This is a question we are still trying to work out in detail. There is a lot of drive in this plan for loan modifications. Many of the provisions this plan has is definitely a step in the right direction but still it is not at a point where it will help the majority of the distressed homeowners. To see if you qualify we will need more in depth information so please give us a call and ask for Ray at (708) 364-5523 or (815) 301-7007.
MORE TO COME....

This site was designed & developed by Raymond Kennedy of Re/Max Team 2000 - (708) 364-5523 or (815) 301-7007