If you are in the market to purchase a foreclosure or a short sale, or you are yourself in foreclosure, there are many myths and truths you need to know about. This page should help you better understand what process will take place when going through it. Please contact us for additional information and to setup an appointment to meet with one of our specialist.

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Frank Wible's "Homeowner Assist Team" is a highly specialized group of industry leaders that include, lawyers, accountants, top lender negotiators, and a national team of specially trained real estate agents.

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If you are facing financial difficulties and are behind on mortgage payments, or if your lender has contacted you in regards to foreclosing on your home, you are not alone. New Jersey has one of the highest foreclosure rates in the nation. Frank Wible and his team of experts can assist you by explaining all your options, and negotiating directly with your lender for a short sale. Frank Wible specializes in marketing properties where a short sale may be a seller's last option before the home is foreclosed. The key to a successful short sale is to call the Frank Wible, the short sale specialist as soon as possible to discuss your options. The call and your information will be kept strictly confidential.

What is a Short Sale or Short Payoff?

A short sale (also known as a short payoff) is when a lender or lenders accept a discounted payoff on your mortgage and agree to allow the homeowner to avoid the cost of a foreclosure. In other words, when a homeowner owes more than can be collected through a real estate sale, a short sale allows them to sell their property to avoid a foreclosure and also reduce or eliminate the remaining mortgage debt.

A short sale may be the best way to keep your credit intact (or from getting worse) for future purchases and can usually help you exit from a property without having to pay anything. It will also save you money by not having to pay attorney's fees, go through an eviction process, make repairs to the home so it is marketable; and often the lender will cover the real estate closing fees.

How Do You Qualify?

Qualifying for a short sale is based on financial need. All lenders require proof of financial hardship. FHA, VA and conventional loans, along with each mortgage servicer, have their own criteria. If you are behind or about to fall behind in your payments we can get you qualified. The earlier in the foreclosure process you start, the higher our likelihood of success.