Hello everyone, this is Kelly Cook with the Kelly Cook Real Estate Group in :k1:; we’re your short sale and real estate specialist for the :k1: area and specialize in helping homeowners find alternatives to foreclosure through the means of a short sale. You can find us online at www.KellyCookHomes.com.
Today we’re addressing Specialized Loan Servicing (SLS) short sales. They are one of the larger loan servicers in the country and they have several different offices throughout the country. They are encouraging homeowners that are behind on their mortgages to look at a few different options because a large portion of the portfolios that they service are in default. That being said, one of the first things you’ll see if you go to their website are loan forbearance, loan modification and short sale. We’ve found out that a loan modification through SLS is very difficult primarily because they don’t give you a principal reduction. They may give you a lower rate, but they’ll just tack that amount on to the back end of the loan. A short sale is something they really encourage and that’s where we step in because we’re short sale specialists. We’ve dealt with them many times and they’re not that bad to deal with. We have a few decent contacts and we look for those contacts to use for you.
Again, we’re one of Arizona’s largest real estate teams, so if you’d like to call us at our Phoenix, AZ or Columbus, OH office, please do. You can also email us at info@kellycookhomes.com or visit www.MyHomeValueCalculator.com. At this website you can enter in some of your loan information and it will instantly send you an email with the current value of your home. If you’re underwater it’ll also provide you with information on whether or not a short sale is a good choice for you. It’s a very helpful free tool to use, so please take advantage of it today.