Tag: bankruptcy

GMAC And Chapter 11 Bankruptcy Won’t Affect Your Short Sale

Hi there, this is Kelly Cook with the Cook & Associates Real Estate Advisors, your :k1: short sale specialist. We can be found online at www.AZKCRealEstateGroup.com. We’re part of The Real Brokerage here in :k1:. We specialize in helping homeowners avoid foreclosure by the means of a short sale.

The topic we’re discussing today is a current one and has to do with GMAC and Chapter 11 bankruptcy. First and foremost, GMAC is very good to work with from a short sale standpoint. They have recently gone to an online platform to submit documents to and to communicate with. This keeps them much more organized and allows them to process the short sale faster. Their short sale process certainly isn’t short, but it’s much better when compared to some other major lenders in the industry.

GMAC has filed for Chapter 11 bankruptcy, so a lot of people are wondering how this is going to affect their short sale or if they haven’t began their short sale yet, will it become a huge mess? So far, it hasn’t really affected anyone. There are always some hiccups in the road when a lender files for bankruptcy, however we have four short sale files going with them so far and they are still moving right along. We actually got an approval letter on one of them the other day. We’d love to help you out with your GMAC short sale, regardless of what goes on with their bankruptcy. We’ll work with the contacts that we’ve established at GMAC; we’d love to use our resources and put them to work for you. Give us a call today at 480.440.9868, email us at info@cookandassociatesaz.com or fill out the form on our website. You can also check out our short sale calculator if you are wondering if a short sale is right for you. Go to kellycookshortsales.com; the short sale calculator will tell you how long it will be until your home is an asset again.