Our Services
Short Sale
If you need to short sell your home Plan B purchases distressed homes using cash to expedite the short sale process and assist homeowners in avoiding foreclosure. Our professional short sale negotiators have successfully negotiated short sales with several different lenders and have a success rate greater than 80%. Our short sale negotiation process is proven and allows for a higher success rate than the typical short sale process.
In real estate, a short sale is a sale of real estate in which the proceeds from the sale fall short of the balance owed on a loan secured by the property sold. In a short sale, the bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship on the part of the mortgagor. This negotiation is all done through communication with a bank's loss mitigation or workout department. The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender, sometimes (but not always) in full satisfaction of the debt. In such instances, the lender would have the right to approve or disapprove of a proposed sale. Many Short Sales leave a deficiency balance for which the Mortgagor / Borrower is still liable. In 99% of all cases it is not a settlement-in-full. A deficiency balance will remain as a potential liability for the Mortgagor / Borrower.
Extenuating circumstances influence whether or not banks will discount a loan balance. These circumstances are usually related to the current real estate market and the borrower's financial situation.
A short sale typically is executed to prevent a home foreclosure, but the decision to proceed with a short sale is predicated on the most economic way for the bank to recover the amount owed on the property. Often a bank will allow a short sale if they believe that it will result in a smaller financial loss than foreclosing as there are carrying costs that are associated with a foreclosure. A bank will typically determine the amount of equity (or lack of), by determining the probable selling price from a Broker Price Opinion (BPO) or through a valuation of an appraisal. For the homeowner, advantages include avoidance of a foreclosure on their credit history and partial control of the monetary deficiency. A short sale is typically faster and less expensive than a foreclosure. In short, a short sale is nothing more than negotiating with lien holders a payoff for less than what they are owed, or rather a sale of a debt, generally on a piece of real estate, short of the full debt amount. It does not extinguish the remaining balance unless settlement is clearly indicated on the acceptance of offer.
Debt Resolution
Our Debt Settlement Program allows you to make one single payment a month while our Attorney Team negotiates your debt. If you paid your minimum monthly payment on your unsecured debt it may take over twenty years to fully payoff your debt. In most cases our debt settlement program allows you to pay less than half of your minimum monthly payment while paying off all your debt in 48 months or less.
There are no upfront fees for the Debt Settlement Program which means you will immediately receive additional cash monthly due to the lower payments for your unsecured debt.
Debt Resolution is different from Debt Settlement. Typical Debt Settlement Programs have a $70 monthly service fee, 15% Attorney fee on total debt to be negotiated, and are 1099 taxed on the amount lost by the creditor. Debt Resolution DOES NOT have any of these fees or a 1099.
Get additional details on our Debt Resolution Program
Credit Repair
The law states that a client's true credit score is known only after all of the negative accounts on their bureaus have been removed if they are:
- Inaccurate
- Unverifiable
- Outdated
Components of a credit file such as: late charges, total interest due, last date payment made and current balances are sometimes incorrect and unverifiable.
Credit experts project that up to 80% of credit titles are in need of correction or can be legally removed.
Our Attorney team will review your credit report with you while making a list of what will be targeted for credit repair. Periodic checks of your credit report during the credit repair process will show the removal of the items targeted.
Investors or Homebuyers
If you are looking to buy a home:
- Plan B negotiates short sale properties with lenders at a discount by purchasing the homes in cash. Also, we purchase Foreclosed properties from banks (REO - Real Estate Owned by Banks) using cash to negotiate discounts.
- Plan B adds value to the home buyer or investor by providing a clear title and shortened waiting periods when we negotiate and purchase a short sold home or REO and then sell it to you at a discounted price or at the current market value. We will keep our clients updated on what homes we are negotiating for short sales. Once we get close to finalizing the negotiation with the lender on the short sale If a client elects to be in first position
- Also, while many short sales and REO’s are being purchased in cash by other investors and homebuyers making it very challenging for you to buy one of these homes for yourself Plan B can purchase the home in cash for you and hold the home for you while your loan is being processed. When your funds are ready Plan B will then sell the home to you.
- We have a team of Investors, Realtors, and Mortgage Brokers in our local business areas that help us ensure smooth transactions. Our staff is here to help.