Home Selling in 60649>Question Details

Mwhite, Home Seller in Chicago, IL

I'm looking for a short sale expert in Chicago illinois

Asked by Mwhite, Chicago, IL Wed Aug 13, 2008

Help the community by answering this question:


Lonny Miller

Realtor @ Charles Rutenberg Realty
Serving Chicago and Suburbs
ph 847-347-4666
fax 847-737-1436

'Helping Sellers of Short Sales Throughout Chicagoland'
1 vote Thank Flag Link Tue Sep 4, 2012
For sellers it's important you find out whether your lender is willing to accept a short sale if when you receive an offer. You can't have $100k in a 401k and expect the bank to take it on the chin for example. They will want to see all your assets as part of their review of the overall short sale package. Best to be honest with yourself & fair to the prospective purchaser from the beginning.

People seeking extreme solutions ususal go through a process of acceptance for catostrophic news as described by Elizabeth Kubler-Roth. 1. Denial 2. Anger 3. Bargaining 4. Depression 5. Acceptance. Step 3# often starts with requesting a loan modification from your current lender. If you have been rejected for that due to insufficient income that's usually 1/2 the battle. Now take an hones look at your assets and ask yourself if you have enough to make up the shortfall with them. Good luck to you in this most difficult siuation.
1 vote Thank Flag Link Wed Aug 13, 2008
Are you looking for someone to help with a purchase, or to sell?
1 vote Thank Flag Link Wed Aug 13, 2008
Lana Cole with Charles Rutenberg- Over 100 successful short sales, 100s of happy customers.
cell 630-903-4468
0 votes Thank Flag Link Tue Jul 22, 2014
All I can say is that I am one of the hardest working agents who will use all of my experience to work for you. That is my promise and pledge. I negotiate all my own short sales
0 votes Thank Flag Link Mon Apr 14, 2014
I am one of the top short sale agents in Chicago and would love to speak to you more on the subject. You can also search my blog for tons of short sale info at http://www.newmanknowschicago.com/blog
0 votes Thank Flag Link Mon Apr 14, 2014
I am a short sale expert and would be glad to discuss your particular situation.

I am a preferred short sale agent for BOA , Chase, and many others. I have SFR designation and am a Five Star REO certified listing agent with several banks
0 votes Thank Flag Link Mon Apr 14, 2014
Law office of Beth Mann - they do tons of short sales and are really people oriented
708-429-9999 illinois
0 votes Thank Flag Link Mon Apr 14, 2014
http://www.theshortsaleguide.com and also DefaultAdvocate.org are national organizations that help refer agents and homeowners to each other. I recommend them both for initially researching what you are going thru. They have blogs and active forums which you can gain a lot of information out of- I suggest doing this so you can contact a local agent and know what to ask and you can judge better, an agent that doesn't know as much as you do before you sign a listing with them. They can review your situation over the phone and can also refer you to an agent closest to you that has closed short sales for them in the past. I am also one of their preferred brokers within their network for handling short sale requests in the Chicagoland area.

In my case, I've been a Loan Officer and Real Estate Broker for many years and back in 2006 I represented lenders and went to the borrowers homes to help them reconnect with each other. It's surprising to realize that with as many people that have gone thru foreclosure...that you find very little information direct from a homeowner (but of course everyone's embarrassed).

Loan Modifications were better offers back then, the rules are always changing. These days, lenders give very limited "Trial Modifications" to most people and then most of those re-affirmations end up back in default. Ultimately, unless they fully recast (which is really hard to qualify for in the first place); financially speaking, you should seek all options available to you and then try to forecast what the result will be in 5-10-20 years. this way you make the best decision for your overall goals. Remember, when the lender offers something you can barely afford now... they are just collecting more money before you default again... they know you will have less money for yourself to get back on your feet with. Car repairs, emergency room visits, home repairs, costs of living going up, utility hikes, savings account replenishment- the lender doesn't factor these issues into your payments. You as the homeowner need to factor it into your ability to live comfortably, for the next 30 years.

Be careful about calling the bill collector 1st- and at the very least have a financial worksheet, well thought out in place before you call that lender as everything you say "can and will be used against you"... Please research then call me at 888-282-6880 or an atty that specializes in short sales.
0 votes Thank Flag Link Tue Jan 15, 2013
Short sales are very complex so make sure to use an agent who truly understands the process. Also someone who can respond quickly and keep all parties updated to ensure it closes. Read my blog to see if a short sale is for you at: http://brittariveraventure.wordpress.com/2011/05/29/video-sh…

My team handles short sales in Chicago's city and suburbs. We love helping people and are prompt and easily accessible. Visit my blog for more details....http://brittariveraventure.wordpress.com/2011/07/16/britta-r…

There is no reason to struggle...find a great agent and get your short sale done.
0 votes Thank Flag Link Tue Oct 2, 2012
I have completed 37 Short sales in Chicago and suburbs. I currently work with Real People Realty you can visit my facebook Real People Realty page for short sales questions you may have. Or movewithdan.com Have also worked for RE/MAX, Baird & Warner, C-21. I have 23 years experience in resident, and commercial multi-family sales You can reach me at 312-307-9237.
0 votes Thank Flag Link Tue Aug 7, 2012
Need an experienced short sale specialist in Chicago? Look no further! We've helped hundreds of area home owners avoid foreclosure with a short sale. I can qualify you for a short sale after a five minute phone consultation. Check out -
0 votes Thank Flag Link Tue Nov 29, 2011
Hi there! We have closed many short sales in the area and can offer no cost assistance. Check out -
0 votes Thank Flag Link Fri Nov 18, 2011
While training is important, experience is everything! Check out -
0 votes Thank Flag Link Fri Nov 18, 2011
If you are still looking for someone in the area make sure they are SFR Certified. Short Sales can be quite complicated and many agents say they know how to do them but do not have the expertise or patience to deal with them. Also make sure agents know something about HAFA, are Equator Certified, understand how to do BPO's Also check out my web site below.
0 votes Thank Flag Link Tue Sep 28, 2010
Careful trusting your financial future to somebody running around claiming to be a "Distressed Property Expert" after taking a weekend training class! There is no substitute for experience, period! Check Out
0 votes Thank Flag Link Fri Sep 10, 2010
Dear MWhite,

Sorry to be responding to your question late, but I have just joined Trulia Voices in the last 48 hours. I would not call myself necessarily expert on short sales, although I am pretty expert on South Shore (I was the top dollar volume producing agent in South Shore in 2007). I am currently working with a client who has 5 multi-unit buildings for sale in the area (most of which are entering the short sale/pre-closure phases of negotiation). I'd be happy to meet with you to discuss your options if you still have time to make a decision about putting your building on the market pre-foreclosure. Feel free to contact me at any time.


Christopher Thomas
Broker Associate, Sudler Sotheby’s International Realty
1634 E. 53rd St. 2nd Floor Chicago, IL 60615
773-418-0640 (mobile) 312-577-0985 (fax)
Web Reference: http://www.myagentchris.com
0 votes Thank Flag Link Fri Nov 21, 2008
Home Solutions Chicago -

0 votes Thank Flag Link Tue Nov 18, 2008
Contact: Brenda Harris
Evenings: 6:00pm. to 10:00 pm. Mon.- Sun.
Web Reference: http://www.yahoo.com
0 votes Thank Flag Link Thu Sep 18, 2008
i sold my house and i hire this firm Law in Chicago Downtown ! they are the best ! i did a Short Sale , and my credit is perfect !
the firm is "Guest , Walsh & Townsend" they are very good with banks and and have a lot experience , you don't need to hire a realtor until the last day ! i m from Poland living in Chicago and i sold my house in 1 day after the process .
0 votes Thank Flag Link Wed Aug 27, 2008
We are ICG Inc., you may have seen our name in the agent remarks of many short sale MLS listings. Why? because we are former mortage lender executives who now are the prefferred short sale outsource for Realtors, Investors, and attorneys, and private sellers. What do we offer? No cost to agent or seller, average 30 day approval times, 95% success ratio, and a 47% discount average (for investors)

Have you heard these claims:
*You can't do short sale when the sellers aren't delinquent.
*You can't protect a sellers credit if they do a short sale.
*You can't get paid your full commission on a short sale.
*You can't do a short sale with a seller who has assets/cash flow.
*Commercial properties can't be short sales.
*ect., ect., ect.

Well, I'm here to tell you that we can and do all of these supposed "undoable" deals. How? It's simple - we know what we are doing!

Check out my blog at http://short_sale_expert.activerain.com/

Don't settle for the so called "experts" who may have taken a course or read a book, use the industry insiders - Investors Capital Group Inc.

Agents and investors - ICG has developed a detailed and advanced short sale training course called "The ICG Method" Contact me for details.
Oh, by the way, we are fully IL HB4611 compliant. If you talk to an "expert" and they don't know what this is, run, don't walk away. This is new Illinois legislation designed to protect the seller.
0 votes Thank Flag Link Fri Aug 15, 2008

TEL 773-987-8224
TEL 847-696-1664

Why choose Michael Sorensen Team for your Chicago & Illinois Short Sale Service?

- there are no upfront fees or out-of-pocket expenses to our short sale clients for any of our short sale service and you will not be asked to bring any money to closing. We are paid by the Bank.

- we are Short Sale and Pre Foreclosure experts. We help property owners negotiate a short sale, avoid foreclosure and walk away with no obligations.

- we have partnered with the largest short sale negotiation firms and top real estate attorneys specializing in short sale and foreclosure law, who close more short sale transactions than anyone else in Illinois.

- we have established relationships with virtually every lender, so we are able to properly 'package' the short sale and get it to the right person in the right format for an prompt response.

- your bank could let you sell your property for less than you owe in mortgages if you are in financial hardship or must relocate.

- we don't charge any upfront fees and you will not be asked to bring any money to the closing.

- The Realtors' commissions, the Lawyers fees, our Short Sale negotiators and the Seller's closing costs are paid by the bank.

- We will NEVER try to buy your property from you, and we will NEVER ask you to sign the deed over to us. We just want to help you sell the property.


Michael Sorensen - Broker Asc
Serving Chicago & most Suburbs
5435 N. Harlem Ave
Chicago IL 60656
TEL 773-987-8224
TEL 847-696-1664

Related Terms & Definitions.

Short Sale (Pre Foreclosure Sale, Short Sell, Short Pay)
Definition: Short Sale is a Real Estate sales transaction where the proceeds of the sale fall short of the property owner's outstanding real estate debt obligations (mortgage loans, real estate taxes, etc..).

In a Short Sale, the lender agrees to adjust the amount owed on the mortgage and accept less than a full payment, in order to get the property sold and avoid foreclosure.

Definition: Repossession of a real property. A legal process by which the lender forces a sale of a mortgaged property because the borrower has not met the terms of the mortgage. (Short Sale prevents Foreclosure).

Definition: Real Estate Owned. Refers to bank or corporate owned property aquired through foreclosure. If a property does not sell at the foreclosure sale (auction), it goes back to the lender and becomes an REO.

Definition: Broker Price Opinion.
0 votes Thank Flag Link Fri Aug 15, 2008
We work short sales with agents, brokers, attorneys, and for some buyer and investors. We know the process and have great rapport with most major lenders. Services with us are FREE and we BUY the properties from the lender AND discount ALL liens on title. info@nysengroup.com

We pay for referrrals! We submit our offer with private funds to the lender...same day!
0 votes Thank Flag Link Thu Aug 14, 2008
If you want to email me I can give you a referral to someone and you can call them. My email is Schuppe@SkydanGroup.com
0 votes Thank Flag Link Wed Aug 13, 2008
Looking to sell. A multi-unit building in the south shore area of Chicago
0 votes Thank Flag Link Wed Aug 13, 2008
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