New Stamford CT Short Sale Testimonial & Fairfield CT Short Sale Testimonial

In the past several weeks we successfully closed another 6 short sales in Fairfield County CT. 2 of the owners that completed a short sale were kind enough to write a testimonial about it.

Joe & Stacie, Fairfield CT "As you know we were very nervous about doing a short sale. We lost sleep over our first missed mortgage payment. After we met with you we felt so much better. You explained the process and our options very clearly and you obviously know what your are doing. The entire process moved along as you predicted. We are so thankful for your help."

Norma, Stamford CT "I found your name after Google searching Bank of America Short Sale and I am so thankful that I did. The house was a noose around my neck for too long. It drained every last bit of savings and then some. I still can't believe that I was able to collect rent for 6 months during the process and that you got both banks to approve the short sale without any strings attached. No money from me at closing or a note...Thank you so much."

To view more short sale testimonials click here.

Jason Milligan continues to be Fairfield County's leading Short Sale Expert. 

Banks are simplifying the short sale process through Equator.

There is an online electronic short sale facilitation website called Equator. It has been around for several years and was formally known as REOtrans. They have been a pioneer in simplifying and streamlining the short sale process. They create one spot where everyone involved in a short sale can upload, share and edit information. Before equator most banks required you to fax documents. It was impossible to track and it took forever. With Equator everyone can see all the documents immediately. There is a record of every email sent and it is all stored in one neat place under the correct property.

The good news is that many of the big banks have signed onto this system. Bank of America was the first major bank to totally embrace Equator. They went from the worst bank to deal with to the best with that one move.

Since then GMAC, Wells Fargo, ASC America Servicing Company which is affiliated with Wells Fargo, BSI Financial Services, and Nationstar Mortgage have signed up. I hope that all of the banks eventually sign up or create something similar.


During the transition process from the old system to Equator many of the banks struggle to make things work. Their staff is often slow to adapt and learn new things and it can be a nightmare to get a short sale all the way through the process. Wells Fargo in particular is handling short sales very poorly right now. Hopefully they will work out the kinks soon.

In the end Equator should save everybody time and money!

Hire an experienced Short Sale Realtor. It can make all the difference.

Not all Realtors are created equal. There are very few Realtors that have fully embraced short sales and for good reason. To properly handle Real Estate short sales you must have a broad knowledge of financial and legal aspects of foreclosure, bankruptcy, IRS regulations, the inner workings of banks and a deep understanding of the way mortgages are created, packaged, syndicated, resold.

Even traditionally successful Real Estate agents have been slow to change. Few truly understand the short sale process and most will try to avoid short sales if they can.

There are many variables that can affect the outcome and consequences of a short sale. If you get it right you can often walk away owing nothing and be on your way to repairing your life and credit. Get it wrong and you could be exposed to further legal action and may have be liable to pay the entire short fall.

There is a lot at stake so be sure to hire the best. In most cases the bank pays all real estate commission. It is not worth the risk to hire a friend or a referral if they don't know what they are doing. Make sure any agent you are considering has a proven track record with Short Sales.

Several years ago some of my clients starting coming up short when they tried to sell there home. Prices had dropped enough that there was no equity left. In the early stages banks were very reluctant to considering doing a short sale. The process was far from uniform and it took very long. The first few short sales took over a year. Since then housing prices have dropped further and banks have experienced a high volume of short sale requests. There has been economic and political pressure for the banks to do more. Now most banks have created some sort of standard process and they have hired more staff.


Over these past few years there have been dramatic changes to the laws and policies concerning short sales and foreclosure. I have dedicated myself to keeping pace with the change. I try to read and follow all the the new programs. Everything from the nationwide foreclosure moratorium that was put in place last fall to mandatory foreclosure mediation imposed by Connecticut court to the government sponsored HAMP & HAFA programs. I have now successfully completed short sales with every major bank and tens of smaller local and regional banks.

If you are having trouble paying your mortgage and you want to learn your options check out my websites or contact me for a free consultation.
www.shortsalect.com
www.milliganrealty.com

You can also read what other satisfied customers have written on my testimonial page.

If you can't afford your house learn your options and make a plan before you burn through your savings!

There are countless reasons why you may be in financial hardship.Loss of job, reduction in income, divorce, medical issues...Too many people burn through their savings and retirement before they objectively think about there situation.

If you can't afford your monthly mortgage and you don't see a solution in the immediate future than you should be thinking about a plan. You will eventually probably have to move from your home, but the circumstances of how and when you move can vary widely. Ideally you will move on your terms with at least some money left. Many times it is more prudent and self preserving to stop paying your mortgage before you take money from your 401K.

The worst thing that can happen to you is that your home gets foreclosed on and the bank then evicts you. That process takes quite a long time and in Connecticut the bank is legally forced to try to work out a solution other than foreclosure for 60 days. You probably have more time than you think.

For a full analysis of your situation contact a short sale expert. I, Jason Milligan of Milligan Realty .com have dedicated myself to helping people short sale their homes. I do everything and read everything I can to stay current on the changing Real Estate environment we are in. If you are even considering a short sale it is in your best interest to at least have a conversation with me.

You can read what some of the clients I have helped have said: Testimonials. 

New Connecticut Short Sale Website

Check out this new website about Connecticut Short Sales and foreclosure: www.shortsalect.com.
There is some great info and a pile of satisfied customers listed. Below is a short video that appears on the site and talks about some of the options.

Bank of America halts all U.S. foreclosures

1. 

The foreclosure mess threatened to become full-blown chaos Friday as the nation's largest bank, Bank of America halted all foreclosure procedures nationwide, raising the pressure on other lenders to do the same.

Bank of America is the first U.S. bank to institute a nationwide moratorium on foreclosures as anger grows at how lenders have prepared documents to support evictions. The halt on foreclosures will take effect on Saturday and also includes sales of foreclosed property.

This article and video appeared MSNBC: http://www.msnbc.msn.com/id/39575033

In my opinion the more difficult and costly the foreclosure process becomes it will give banks more incentive to authorize Short Sales.

We have been able to successfully help dozens of property owners get out of a bad situation through a short sale. Milligan Realty .com has experience with almost all of the banks and knowing their processes really helps. If you want to learn more about short sales or receive a FREE confidential consultation click here: www.applyshortsale.com

No CT Foreclosures for 60 days!

Connecticut Attorney General Richard Blumenthal has asked the state Judicial Department to suspend all foreclosures for 60 days while foreclosure practices are investigated.  Blumenthal says:

“This freeze should stop a foreclosure steamroller based on defective documents and enable effective remedies.  The actions of GMAC/Ally and JP Morgan are inexcusable, a possible fraud on the court undermining the integrity of the legal process and consumers’ ability to fight foreclosures.”

There has been quite a stir recently about the process in which large banks are foreclosing. Several of the large banks including Chase and GMAC have been accused of falsely notarizing documents among other complaints.

  With the recent complications and issues surrounding foreclosure it makes it that much more appealing for banks to approves a CT short sale.

We have been able to successfully help dozens of property owners get out of a bad situation through a short sale. Milligan Realty .com has experience with almost all of the banks and knowing their processes really helps. If you want to learn more about short sales or receive a FREE confidential consultation click here: www.applyshortsale.com