Welcome to You’re hear because you want to avoid foreclosure so let’s get right to it.

First you must realize that you are not alone. The banking industry is fully aware of the problem we are all faced with. Remember, the issue of rising foreclosures affects every neighborhood and I would estimate that nearly every person out there knows someone – a friend or a family member who’s unemployed and in danger of losing their home. This is an epidemic and I’m here to help.

In order to successfully negotiate a short sale, there are multiple goals that must be achieved in a timely manner. Pricing goals, marketing goals, and closing goals are all apart of what it takes to negotiate a successful short sale.

A critical part of successfully completing a short sale, is meeting deadlines for the listing and making sure that offers are presented as quickly as possible.

Why consider a short sale over foreclosure?

The main reason why short sales are a good alternative to foreclosure is because the effect on your credit is much less damaging than a simply ignoring the problem and allowing the bank to foreclose.

On a FICO score, the average loss is 300 to 400 points when you go through the process of foreclosure. However, should you decide to negotiate a short sale, the drop in your FICO score may only be 80 to 100 points, assuming your mortgage is the only debt you can’t pay.

Click Here To View MUST READ INFO For Homeowners – Find out what category of short sale you match up with.

Why Choose Tom McGiveron?

I help you avoid foreclosure with no real estate or attorney fees to my clients! Lenders pay all the fees. So don’t pay some unknown third-party “negotiator” or attorney who charges you, call me first! Watch the video to below to learn why to avoid real estate agents who lack experience and expertise in foreclosure avoidance.

Client Testimonial: “It was a pleasure to have Tom as my realtor for my very difficult short sale..
He was knowledgeable and detail oriented. Tom’s out of the box thinking got the job done. I was so happy when my house sold. He is someone you can put your full confidence. I’m glad I did.”
Sonia R. (Merrick, NY) July, 2012

If you are in a position where you are struggling to make your mortgage payments, have already stopped making payments, or you are running out of money in your savings to keep up with the payments, please call me, Tom McGiveron, Licensed Associate Broker with DouglasElliman, at 631.831.9048.

What is required of the seller to start the process of a short sale?

The short sale “package” that you will need to submit to the bank will include a hardship letter written by you ,the owner(s), which explains the circumstances surrounding your difficulty paying the mortgage. The lender will also require an authorization form allowing your real estate agent (me) and/or attorney, to speak to the bank and negotiate the sale approval. Additionally, the lender will want proof that the money coming into the household is insufficient to cover the mortgage, so W-2’s, bank statements, and check stubs will be required.

What’s the best part of a short sale?

Selling your house for less than what it is worth and owe nothing to the bank after the sale is complete – no judgements, no liens, no hassles! This means that whatever you sell it for less than what is owed, will be negotiated as part of the short sale, the bank will take less and you walk away owing nothing to the bank. **

Another great aspect of a short sale is that it is a private matter. The home will be marketed on MLS and other venues as any “regular” home would be. With a foreclosure, this is a very public proceeding involving public notices and a ton of mail coming to the home on a daily basis from investors looking to purchase the home and daily phone calls from the bank(s) trying to collect the money owed.

With a short sale that is professionally handled by me and my office, you will learn how to handle the phone calls by telling them to call your attorney that is handling the short sale transaction. Furthermore, once the home is listed, this will hopefully limit much of the mail you will receive as many “investors” will find out it’s listed and that you have chosen a professionally trained licensed real estate agent to handle the sale.

Want to schedule a confidential appointment now?
Email Me or call (631)831-9048.

What happens if I don’t do anything and just walk away?

The process of foreclosure is a legal matter. I highly recommend that you contact a qualified attorney who is very familiar with foreclosure law. Things like a full deficiency judgment are a serious matter that should be fully discussed with an attorney.

I work with the best in the business and I would gladly recommend them to you. Feel free to call me at (631)831-9048 or email me.

Complexities Explained

Short sales require approvals from a number of different parties. These include the loan servicer, the loan investor, and the mortgage insurance company (if applicable). These are items that I analyze up front, in order to expedite the process. If there is a second mortgage on the property, that’s another party added to the list that will be involved in the approval process.
Generally speaking, many lenders will consider a short sale after some type of loan modification is explored with the borrower. This may involve extending the loan term or reducing the interest rate.

How Douglas Elliman helps you.

For most lenders, if not all, the communication process can be very difficult between the bank(s) and the borrower. That’s where I come in. Once a short sale seems like the best option for you, it’s up to me to advise appropriately on how to go about getting things up and running and getting an application packet together as soon as possible. This requires work on your part to put documents together in order to complete the packet and an incomplete or inaccurate application can create processing delays, which you absolutely want to avoid.

Obviously, one of the major portions to a short sale application packet is an offer – that’s where I come in.

Call 631-831-9048 today and let’s review your options together!



**CONSULT AN ATTORNEY – In some circumstances, with certain lenders, the difference of what you are not able to pay, may be sought by that lender. Another words, after the process of marketing the home, getting a buyer and going to contract and submitting this contract along with the rest of your short sale paperwork and after finalizing and having the lender(s) agree to terms, certain lending institutions will require the borrower to remain liable for the amount owed.

In English, this means that at the end of the road, your bank may want to pursue the difference (or a portion of it) of what you owe. So if you sell your home for $300,000 but you owed $341,354.62 – some lenders will try and say that as part of the short sale agreement, you will still be liable to pay the difference of $41,354.62, either in lump sum or monthly payments.

Of course this is not acceptable and we will do everything to see that any deficiency note is negotiated to either zero or an amount suitable for you to continue with the short sale and sell your home to avoid foreclosure. I, and the experts I work with, will explain this and all of the options that are available to you.