Short Sale Ebook For Shortsalepromiami - Com 060110

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SPECIAL REPORT
How To Stop Foreclosure With a Short Sale
By Russ Irizarry
South Florida Short Sales

A registered member of the
Better Business Bureau
Table of Contents
Introduction 3
The Foreclosure Process 4
Options to Avoid Foreclosure 7
What is a Short Sale? 10
Financial Effects of a Short Sale 13
Actual Credit report after a Short Sale 15
Short Sale Case Studies 16
Short Sale Benefits 24
Foreclosure vs. Short Sales Comparison 25
Frequently Asked Questions 27
Beware of Foreclosure Rescue Scams 29
Conclusion 30
Testimonials from past sellers 33
Disclaimer
The content in this presentation is based upon our research, knowledge and experience. In no way
is any information contained herein to be interpreted as legal or tax advice. To be assured of sound
legal advice with regards to foreclosure, real estate, bankruptcy or agency laws, please employ the
use of a competent legal or tax professional and/or your real estate broker.
Please consult your broker, accountant and attorney, as appropriate, for advice specific to your
situation. Although every effort is made to keep this presentation current and relevant, it is your
responsibility to seek guidance from qualified professionals in order to keep up with rapidly
changing market conditions and periodic changes to the law.
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Introduction
Inside this report, you will find valuable information on the foreclosure process in the
state of Florida, the foreclosure timeline, several options to avoiding foreclosure, and an
overall explanation of Short Sales and the Short Sale process, and some sample case
studies.
I have shown homeowners not only how to stop foreclosure, but also how to
successfully get their homes sold with a Short Sale with the least amount of damage to
their credit and finances. My team has negotiated short sales successfully with major
lenders such as Wells Fargo, Bank of America, Chase, Citi, Aurora, Suntrust,
Indymac/One West, WaMu, Saxon, GMAC, EMC, Litton Loans, and BBT.
If you are facing foreclosure, this may be the first time. Well, it’s not our first time and if
you let us help you then we can guide you to make logical decisions that will not only
stop your current foreclosure, but will set you up for future financial success.
If you have any questions whatsoever as you are reading this, please feel free to call me
at 1-866-412-5269 anytime. My service is available 24/7. You can also email me at
IshortsaleFL@gmail.com
What’s important is that you understand your options so

that you can make the very best, most logical decision.
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The Foreclosure Process
The Foreclosure Process varies by State, and falls into two categories: Judicial, and Non-
Judicial.
Non-Judicial – Foreclosure process happens without the courts. (full discussion is
beyondthe scope of this report)
Judicial – Foreclosure is processed though the courts, as in the state of FL.
(For detailed information on the Foreclosure process in Miami-Dade

County, go to: www.miamidade.gov/foreclosure)
3 Stages of Foreclosure
Stage I - Preforeclosure Stage II – Public Auction Stage III – Bank Owned REO
I Pre-Foreclosure is the period between the Bank’s Notice of Default (Lis Pendens) to
the Borrower, and the property going to a Foreclosure sale.
II Public Auction (the actual Foreclosure) is the 2nd phase. This is where the property is
sold on the ‘courthouse steps’. (In Dade County at 140 W. Flagler room 908 daily at
11am)
III REO is the final phase of the cycle. Here, the Bank has foreclosed and owns the
property, and will eventually put the property on market.
For the sake of this report, we will only be discussing the Pre-Foreclosure stage. In the
Pre-Foreclosure stage, the homeowner has several options prior to the property going
to Public Auction. Options for avoiding foreclosure can be categorized as follows:
1.Staying in house (slowing or stopping Foreclosure)
2.Moving from house
But before we get into the options, it’s important for you to understand the pre-
foreclosure timeline.
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Pre-Foreclosure Timeline
As you can see from the above timeline, you have approximately 8 months from the
time you start missing payments, to the time the bank takes the property back at public
auction.
However, due to large volume of foreclosures now being taken back by the lenders, the
process can take longer than a year. Again, if you want to see details of the process in
Miami-Dade county, go to: www.miamidade.gov/foreclosure.
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Foreclosures – Did you Know?
• A homeowner who goes through foreclosure is ineligible for a Fannie Mae backed
loan for 5 years thereafter, and an investor owner is ineligible for 7 years thereafter.
• Future mortgage loans and interest % rates will be affected because the foreclosed
homeowner must answer “Yes” to the Form 1003 Uniform Residential Loan Application
question “Have you had property foreclosed upon or given title or deed in lieu thereof
in the last 7 years?”
• A foreclosure can affect credit scores downward by 200-300 points, typical for over 3
years
• Foreclosure stays on credit history for 10 years
• Current and future employment may be affected as many employers now require
credit checks, particularly for employees in financial or sensitive positions.
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Options to Avoid Foreclosure
There are Two Categories of Options:
1. Staying in House
2. Moving from House
If you fall behind in your loan, you should contact your creditors as quickly as possible
and attempt to work out a voluntary repayment plan. The sooner you contact your
lender, the more options you will have.
1. OPTIONS FOR STAYING IN THE HOUSE
Refinance: The borrower pays off the existing mortgage loan with proceeds from a
new loan with more favorable terms. (must do before missing payments) Refinance will
not be an option if there is no equity in the home.
Repayment Plan: The borrower is allowed to catch up on missed payments by

making more than the monthly payment until the amount is brought current. (very
difficult to do if the financial problem is not temporary)
Forbearance Plan: Bank allows you to skip monthly payments temporarily, or make
partial payments for a specified time. Missed payments may be added to principal or
become part of a repayment plan or loan mod. (can only do if financial problem is
temporary)
Loan Modification: Allows for changes to the original terms of a borrower’s

promissory note, which may include an adjustment to the interest rate %, an extension
of the loan term, or adding missed payments to principal. If your loan is backed by
Fannie Mae/Freddie Mac, you can have your loan refinanced or modified FREE OF
CHARGE if you qualify. Go to www.makinghomeaffordable.gov to see if you qualify.
Bankruptcy: A borrower’s loan may be changed from the original terms based on a
Loan Modification as part of a court-approved reorganization plan. Your options would
be either Chapter 7, or a Chapter 13. I cannot give legal advice, (in as much as my
parents would have loved for me to become an attorney), so I strongly advise you do
your own research. Try a Google search with the terms ‘foreclosure vs. bankruptcy’ or
‘can bankruptcy stop foreclosure’.
The first and most important thing you need to know about Bankruptcy is that it
does not permanently stop or prevent a foreclosure from occurring, it can only
temporarily freeze a foreclosure action.
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A Final Note: All the above options for staying in the house have one thing in common
– the homeowner MUST be in a position to make some sort of reasonable payment
that is agreeable to the Bank, and make it on time every month.
On Feb 18, 2009 the Obama Administration announced the Making Home
Affordable (MHA) Program, a plan to stabilize the housing market and
offer FREE assistance to homeowners by reducing mortgage payments to
affordable levels and preventing foreclosures. You can find out if you
qualify by going to www.makinghomeaffordable.gov. Also, your local
HUD office will also review your loan modification options with you FREE
OF CHARGE. Go to www.hud.gov.
If you have fully explored all of your options

for staying in the house and have been unable to
find a comfortable solution, then you need to
consider your options for moving from the house.
2. OPTIONS FOR MOVING FROM THE HOUSE



Deed-In-Lieu of Foreclosure:
Allows for the owner to voluntarily transfer a property to the bank without going
through the full foreclosure process. Essentially, the owner gives the deed back to the
bank. A Deed-In-Lieu shortens the process for the bank, with less costs. It has the
same negative impact on credit as a foreclosure - a black mark for 7 years. The courts
are not involved. A Deed-In-Lieu is not an option if there is more than 1 mortgage or
lien on the house. You should contact your lender as early as possible to find out if this
is an option.
Walk away and do nothing, resulting in Foreclosure. It is unfortunate that one of

the most common options by homeowners is to do NOTHING. This is most likely due to
fear, confusion, and lack of knowledge of all of the available options. Doing nothing is
absolutely the worst option because of the negative effects a Foreclosure will have on
your credit and your future. It will be very difficult to find a place to rent, finance a car,
or apply for employment. Every time your credit is pulled, your foreclosure will come
back to haunt you.
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The Short Sale:
The Bank agrees to accept less than what is owed to settle the mortgage in full (a
discounted pay-off), and release or satisfy its lien upon the sale. For example:
Home Sold Price: $300,000
Mortgage Balance: $450,000
Short: ($150,000)
There are clear advantages to a Short Sale versus a Foreclosure for both
the homeowner and Bank in virtually all situations (see graph on p. 21).
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What is a Short Sale?
If you have been unable to arrange an acceptable agreement with your
lender, or find another suitable solution in a TIMELY MANNER, then it is
time to seriously consider selling.
A Short Sale occurs when the proceeds of a real estate sale fall short of the mortgage
balance owed on the property. In 2008, Short Sales accounted for about 11% of U.S.
homes sales.
In Miami-Dade county, Short Sales make up about 35%* of all homes on the market.
In Miami-Dade over 2,200 Short Sales have closed successfully from Jan 1 – Sep 30
2009.* Those homeowners successfully avoided foreclosure.
Two conditions must exist for the lender to consider a

Short Sale:
1. There must be little or no equity in the property.
2. Homeowner must prove a legitimate hardship.
Why do Lenders Consider Short

Sales?
Lenders will consider Short Sales for the following reasons:
• Lenders are in the business of making loans, not owning real estate.
• If the lender forecloses, the value of the loan increases their liabilities, reduces
their ability to make loans, and contributes to their insolvency.
• Foreclosures cost lenders time and money. It costs an estimated $60,000+ to
foreclose.
• The Short Sale offer is equal to or less than what a lender can expect to lose by
foreclosing and selling the property at a future date (especially in a market where
prices are depreciating).
• The property is in less “sellable condition” at time of foreclosure.
• Lenders created the Short Sale option as an alternative to foreclosure.
* source: Southeast Florida MLS
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Obama Administration offers
incentives for short sales
On Feb 18, 2009 the Obama Administration announced the Making Home Affordable
(MHA) Program, a plan to stabilize the housing market and offer FREE assistance to
homeowners by reducing mortgage payments to affordable levels and preventing
foreclosures.
You can find out if you qualify by going to www.makinghomeaffordable.gov. Also,

your local HUD office will also review your loan modification options with you at NO
CHARGE to you. Go to www.hud.gov.
On May 14, 2009, the Obama Administration announced incentives and uniform
procedures for Short Sales under its new Foreclosure Alternatives, as part of the
Making Home Affordable Program.
 Incentives: Incentives include: (1) $1,000 for mortgage servicers for successful
completion of a short sale or deed-in-lieu of foreclosure; (2) $1,500 for
borrowers/homeowners to help with relocation expenses; and (3) up to $1,000
toward the cost of paying junior lien holders to release their liens.
 Standardized Documents: The program will include streamlined and standardized
documents, including a Short Sale Agreement and an Offer Acceptance Letter. The
goal is to minimize complexity and increase use of the Short Sale option.
What Documents Are

Required for a short
Sale?
The Seller’s Lender will require the following documentation from the Seller to consider
the Short Sale:
 Purchase and Sale Agreement – this is the contract to sell your house between you
and your buyer
 Hardship Letter – a letter written by you to your lender explaining your hardship and
why you can no long make your mortgage payments.
 Authorization to Release Information – Form signed by you authorizing your lender to
release information and negotiate the short sale with your agent, buyer, or other 3 rd
party such as attorney or title company.
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 HUD1 – financial summary of the transaction that that tells the lender the sales price
and the proposed payoff.
 Financial Statement – A summary of your monthly income and expenses, your assets
and liabilities.
 2 most recent Bank Statements, 2 most recent Federal Tax returns, and 2 most recent
paystubs.
The compilation of all of the above documents is what makes up a completed “Short
Sale Package.” The main purpose of the Short Sale package is to substantiate your
hardship to the lender, and prove that you can no longer make your payments. Your
bank wants to see that you simply cannot afford your house anymore.
The Short Sale Package is similar to making an application to purchase a

house, except you’re doing it IN REVERSE!! You’re making an application to
get out of a house.
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Financial Effects
Of A Short Sale
A Short Sale can affect credit your ‘FICO’ credit score downward by 100-200 points.
However, once the property is sold, it will show as ‘account settled’ on your credit
report.. A short sale is considered to be less damaging to your credit as compared to a
Foreclosure which can affect your credit downward score by 200-300 points.
A Short Sale can result in a deficiency Judgment. There is the risk that the bank can
pursue a judgment for the shortage (difference b/w total mortgage owed and sale
amount). However, if there is no money to be recovered (if the seller doesn’t have any
other assets worth pursuing) a deficiency judgment may not be enforced. In most
cases, the lender is more likely to issue a 1099C for the amount of debt relief. (See your
local CPA for details.)
NOTE: A lender can still pursue a deficiency judgment even if the home
goes to foreclosure for the difference b/w the REO sale price and the total
mortgage balance!! HOWEVER…..By doing the Short Sale, we can
negotiate with your lender to waive the right to pursue a deficiency.
ANOTHER NOTE: In the state of Florida, certain assets are protected from
a deficiency judgment. These include your homestead (primary
residence), life insurance policies and annuity contracts, pension and
profit sharing plans, IRAs, disability income and prepaid college plans.
(see your local attorney for details, do your own research)
One of the things we ask for when negotiating a Short Sale is a full ‘Satisfaction of Lien’
or that the lender waive its right to pursue a deficiency. If the bank does satisfy the lien,
the bank will most likely issue a 1099C for amount of debt forgiven.
Example:
Mortgage balance: $450,000
Approved Short Sale payoff: $300,000
Shortage/Deficiency: <$150,000>
In this example, the bank may send the seller a 1099C showing $150,000 as income. In
the eyes of the IRS, debt relief = income to seller.
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However, the good news is…..
In 2007, Congress passed the “Mortgage Forgiveness Debt Relief Act of 2007” which
eliminates taxation on debt forgiveness on owner-occupied homes. It applies to debt
forgiven between 2007 and 2012.
You can read all about Mortgage Forgiveness Debt Relief Act of 2007 at the IRS
website here:
http://www.irs.gov/individuals/article/0,,id=179414,00.html
So in the above example, if the bank sends you a 1099C for $150,000, you would not
have to pay income tax on it if the property was your primary residence. (Again, see
your accountant for details, and do your own research)
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Actual Credit Report After a
Short Sale
The above screenshot was taken from a credit report of a homeowner who successfully
sold their property as a short sale. Had the property not been sold, it would have gone
to foreclosure. The seller hadn’t made a payment in over 6 months.
As you can see, the account status was reported as “Account legally paid in full for less
than the full balance.” There are many factors which will invariably affect your credit
score, however, the credit impact of a short sale is considered to be less damaging than
a ‘deed-in-lieu of foreclosure, or a foreclosure.
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Short Sale Case Studies
Below are some recent examples of Short Sales that we have successfully completed in
Miami-Dade County. I have also attached the respective Short Sale Payoff approval
from the lender.
CASE STUDY 1.
22161 SW 94 Ave
Cutler Bay, FL 33190
Lien Amount Negotiated Short Sale

st
1 Mortgage (Saxon Mortgage) $519,750 $215,464
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CASE STUDY 2.
21470 SW 86 Pl
21470 SW 86 Pl

1st Mortgage (WaMu) $198,000 $134,224
2nd Mortgage (WaMu) $ 49,000 $ 2,000
TOTAL $247,000 $136,224
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CASE STUDY 3.
3355 NE 13 Cir Dr #104

Homestead, FL 33033

1st Mortgage (Chase Mortgage) $169,306 $41,219
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CASE STUDY 4.
17655 SW 80 Ct
Palmetto Bay, FL 33157

1st Mortgage (Chase Mortgage) $722,500 $337,741
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CASE STUDY 5.
8493 sw 158 ct
Miami, FL 33193

1st Mortgage (Indymac/One West) $320,000 $170,040
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See the corresponding Short Sale payoff approvals on the

following 4 pages….
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Short Sale Benefits
The following are the greatest benefits of the Short Sale transaction:
• Sellers get the house sold and remove a major burden. The sale allows
them to move on with their lives.
• Credit ratings are not as damaged as compared to a Deed-In-Lieu, or a
Foreclosure Action. Sellers can regain their financial stability much sooner,
and qualify for a new mortgage easier and quicker at some time in the
future. Credit will ‘heal’ faster.
• The Short Sale can be negotiated so there is no deficiency judgment. The
mortgage lien can be satisfied (depending upon the lender’s approval).
• Sellers have a greater sense of personal dignity by having their home sold,
versus losing the property to foreclosure.
• The 1099C received by the sellers for the amount of debt relieved by the
lender is non-taxable if the home is their primary residence. (The Mortgage
Forgiveness Debt Relief Act of 2007 eliminates taxation on debit forgiveness
if the residence was owner-occupied. See your accountant for details. This is
not tax advice.)
• Per Fannie Mae guidelines, you can be eligible for a new home mortgage
only after 2 years, versus 5 years with a Foreclosure
In order to more easily see why the Short Sale option is

preferable over Foreclosure, we have provided a side by
side comparison on the following page...
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Foreclosure vs. Short Sale
Issue Foreclosure Successful Short Sale
A homeowner who loses a home A homeowner who successfully
Future Fannie Mae Loan to foreclosure is ineligible for a negotiates and closes a short
– On a Primary Fannie Mae backed mortgage for sale will be eligible for a Fannie
Residence (effective a period of 5 years. Mae backed mortgage after
5/21/08) only 2 years.
An investor who allows a An investor who successfully
Future Fannie Mae Loan property to go to foreclosure is negotiates and closes a short
– on a Non-Primary ineligible for a Fannie Mae sale will be eligible for a Fannie
Residence (effective May backed investment mortgage for Mae backed investment
21, 2008) a period of 7 years. mortgage after only 2 years.
On any future 1003 Application
(standard loan application), a
prospective borrower will have to
answer YES to question C in There is no similar declaration,
Future Loan with any Section VIII, that asks, “Have or question regarding a short
mortgage company you had property foreclosed sale.
upon, or given title or deed in
lieu thereof?” This will affect
all future rates.
Only late payments on
Score may be lowered anywhere mortgage will show, and after
from 250 to over 300 points. sale, mortgage will be report as
Credit Score Typically, this will affect score for „account settled‟ or „account
over 3 years. paid‟ or „negotiated‟. This can
lower score from 50 – 100
points, if all other payments
are being made. The credit
effect of a short sale can be as
brief as 12 to 18 mos.
Foreclosure will remain as a A short sale is not reported
Credit History public record on a person‟s credit on a credit history. There is
history for 10 years or ore. no specific reporting item for
“short sale.” The loan is
typically reported as „account
settled‟ or „account paid.‟
Foreclosure is the most
Security Clearances challenging issue against a
security clearance outside of a
conviction for a serious
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misdemeanor felony. If a client
has a foreclosure, and is a police A short sale, on its own, does
Security Clearances officer, in the military, a not challenge most security
(continued) government employee, a security clearances.
officer, or any position that
requires a security clearance,
in almost all cases, clearance
will be revoked and position
will be terminated.
Employers have the right, and
are actively and regularly
checking the credit of all A short sale is not reported on
Current Employment employees who are in a credit report, and is therefore
sensitive positions. A not a challenge to
foreclosure, in many cases, is employment.
grounds for immediate
reassignment or termination.
Many employers are requiring
credit checks on all job
applicants. A foreclosure is one A short sale is not reported on
Future Employment of the most detrimental credit a credit report, and is therefore
items an applicant can have, not a challenge to
and, in most cases, will employment.
challenge employment.
In 100% of foreclosures in In a successful short sale, it is
Florida, the bank has the right possible to convince the
Deficiency Judgment to pursue a deficiency lender to give up the right
judgment. to pursue a deficiency
judgment against the
homeowner.
In a foreclosure, the home will In a property negotiated short
have to go through an REO sale, the home is sold at a price
process if it does not sell at that should be close to market
Deficiency Judgment auction. In most cases, this will value, and in almost all cases,
amount result in a lower sales price, and will be better than an REO sale,
a longer time to sell in a resulting in a lower
declining market. This will result deficiency amount.
in a higher possible
deficiency judgment.
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Frequently Asked Questions
Will a Lender accept a short sale if my payments are current?
Speak to your lender. In most cases they will accept a short sale if you can
prove a financial hardship that is not temporary, have explored all of your
options (refinance or loan modification), and will soon no longer to be able
to make your payments.
Can you guarantee that the bank won’t come after us for the deficiency if
we do the Short Sale?
No we cannot guarantee that. It is up to your lender. However, we can tell
you that the bank will have to incur costs if they pursue a deficiency
judgment. Unless you have great credit, are not delinquent, or have
significant assets, most banks will not. A lender usually releases liability of
the mortgagee as part of the short sale approval, and issues a 1099 instead
(depends on the lender, and your financial position).
What is a 1099?
1099 is a form used by the IRS to report various types
of income. The bank may report the amount of debt
forgiven to the IRS, which you will have to report as
income on your tax return whether or not you receive
the 1099 (Debt relief = income). However, in 2007
Congress passed the “Mortgage Forgiveness Debt Relief
Act of 2007” which eliminates taxation on debt
forgiveness on owner-occupied homes. Applies to debt forgiven
between 2007 and 2012. (Again, we’re not giving you tax advice. See your
local CPA for details.)
Why do I have to provide personal financial data?

In order for the bank to approve your Short Sale, you need to prove your
financial hardship. The hardship needs to be justified and documented. The
supporting documents required by the lender are 2 recent pay stubs, 2
recent bank statements, 2 most recent tax returns and a financial
statement.
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How long does the Short Sale process take?
From submission of the Short Sale package to final approval can take
anywhere from 90 to 180 days. The Short Sale Package must be 100%
complete, and there must be continuous follow-up with the lender. You
must call the lender (and usually be on hold for 20 minutes) at least 2 times
per wk.
Can I Short Sale the property myself?

In most cases the lender will want to see that there is a realtor involved, and
there was an attempt to market the property. You can attempt to Short Sell
the property yourself, however, there are 2 potential pitfalls:
1st - If you don’t have specific knowledge of the market, you will not know
how to price your property correctly to generate buyer interest and get the
property sold.
2nd - When negotiating the offer with your lender, you will need to provide
them with a very specific set of documentation, including a very strong
justification supporting the offered price. If this is not done correctly, it will
most likely lead to the offer being declined or simply ignored. You will now
have wasted time that you don't have while the lender continues to
foreclose on the property.
Can I receive any proceeds from the sale?

Since you owe more than the property is worth, the lender will not permit
you to receive any proceeds from the sale.
Is there any guarantee that my lender will accept a Short Sale?

We make every effort to work with your lender on your behalf and get them
to accept a short sale. However, we could never make any guarantees that
your lender will accept the Short Sale. All lenders are different and every
situation is different. One thing is for sure, they do not want your property
back and many times they will accept a short sale if it makes financial sense
for them. Our goal is to come up with a win/win offer.
Will this cost me anything?

We do not charge any fees.
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ALERT!! Beware of Foreclosure Rescue Scams
HELP is free!!
 Scam artists often target homeowners who are struggling
to meet their mortgage commitment, or anxious to sell
their home. Recognize and avoid common scams.
 Assistance from a HUD approved housing counselor is
FREE. Go to www.Hud.gov for more info.
 Beware of anyone who asks you to pay a fee in exchange
for a counseling service or modification of a loan.
 Beware of people who pressure to sign papers
immediately or try to convince you that they can ‘save’
your home if you sign or transfer over your deed to your
house.
 Do not sign over the deed to your property to any
organization or individual unless you are working directly
with your mortgage company to forgive your debt.
 Never make a mortgage payment to anyone other than
your mortgage company without their approval.
 Learn your options and your rights and be an informed
consumer!
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Conclusion
If your payments are several months behind, your lender
may have already started the foreclosure proceeding.
As time passes, thousands of dollars in penalties and
legal fees can be added to the balance. Time is not on your side. You
must REALIZE that you need help. THE QUALITY OF THE HELP YOU SEEK
WILL MAKE A DIFFERENCE IN THE END.
The reason I wrote this Special Report is to provide information, and help
homeowners understand their options. My intention is to help educate,
and hopefully lessen any confusion, fear, or anxiety there may be about the
foreclosure process. I hope you found the information in this report to be
helpful. Please call me anytime at 1-866-412-5269 if you would like to
discuss any of these options, and I will gladly answer your questions.
When the market was hot, I sold hundreds of homes and became
successful in real estate sales. When the market turned, many clients came
to me looking for help. For me it is a MORAL OBLIGATION to help past
clients to whom I’ve sold homes in the past.
To hold myself to a higher standard, I registered my company with the

Southeast Florida Better Business Bureau. You can check me out here:
http://www.seflorida.bbb.org/Home.aspx
South Florida Short Sales

6538 Collins Ave #67
Miami Beach, FL 33141
I’ve also set up a free hotline, that you can call anytime if you have any
questions related to real estate, the foreclosure process, Short Sales, or
anything in this Special Report.
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Call us at 1-866-412-5269
I invite you to call me anytime. It would be a privilege to have the

opportunity to answer your questions and be a trusted real estate resource.
If you have already decided that it is in your best interest to sell the
property and are ready to discuss this option, call me, and here is what we
will do:
• Initial phone consultation with you to make sure you’ve explored all
of your options (ie. loan modification)
• If you decide that a Short Sale is for you, we‘ll set an appointment
with you to discuss the process in detail. We will guide you through all
of the necessary paperwork and what is required.
• If your property qualifies, we submit a cash purchase offer to the
lender(s) with a completed Short Sale package.
• We negotiate a settlement with your lender(s).
• We continue to market the property and secure an end buyer while
we are negotiating with your lender to accept a short sale. You
cooperate by making the house available to show.
• We pay off lender(s) and close with the end buyer.
Why Work With Us?

• You get an immediate cash purchase offer on the property allowing us
to get the Short Sale started NOW.
• The closing will be handled by an Attorney owned Title Company,
locally owned and operated.
• We are Professional Short Sale Specialists. Negotiating Short Sales is
what we do exclusively and full time, nothing else.
_______________________________________________________________________
1-866-412-5269 31
• WE DON’T CHARGE ANY FEES, AND YOU DON’T PAY ANY
COMMISSIONS.
• We are a local company, located in Miami-Dade County, FL.
• We are an ‘A’ rated company with the Better Business Bureau
Our priority is to create a WIN-WIN-WIN for all parties involved:
Homeowner – Avoids Foreclosure!

Lender – Gets a bad loan off their books!
Buyer – Gets a home they want at a great price!
Buyer’s lender – creates a new performing loan!
Realtors – get paid $$ on the sale!
Neighborhood – avoids a vacant house!
Economy – stimulated by all of the above!!!
Thank you for taking the time to read this Special Report. If you know of
anyone else who could benefit from the services I provide, I would sincerely
appreciate the opportunity to be of assistance to them as well.
In friendship,
Who is Russ Irizarry?
Russ Irizarry has been a resident of Miami-Dade
county since 1996. He is a former CPA with a Big 5
accounting firm and a Fortune 500 corporate
background. From 1998 to 2005 he worked for a top
national homebuilding company, selling hundreds of
homes to families in the Miami-Dade county area.
Since 2001 he has actively invested in real estate with

rehabbing, landlording, and wholesaling experience.
Since 2007 he has worked short sales exclusively,
helping homeowners avoid foreclosure in all areas of
Russ Irizarry Miami-Dade county.
1-866-412-5269 You are welcome to contact him at

www.AvoidForeclosureMiamiDade.com ishortsaleFL@gmail.com
www.StopForeclosureMiamiDade.com
www.ShortSaleProMiami.com
_______________________________________________________________________
1-866-412-5269 32
Testimonials
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1-866-412-5269 33
Testimonials
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1-866-412-5269 34
Testimonials
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1-866-412-5269 35
Testimonials
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1-866-412-5269 36

Short Sale Ebook For Shortsalepromiami - Com 060110

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How To Stop Foreclosure With a Short Sale

South Florida Short Sales

What’s important is that you understand your options so

(For detailed information on the Foreclosure process in Miami-Dade

• Foreclosure stays on credit history for 10 years

1. OPTIONS FOR STAYING IN THE HOUSE

Repayment Plan: The borrower is allowed to catch up on missed payments by

Loan Modification: Allows for changes to the original terms of a borrower’s

If you have fully explored all of your options

2. OPTIONS FOR MOVING FROM THE HOUSE

Walk away and do nothing, resulting in Foreclosure. It is unfortunate that one of

Two conditions must exist for the lender to consider a

Why do Lenders Consider Short

* source: Southeast Florida MLS

You can find out if you qualify by going to www.makinghomeaffordable.gov. Also,

What Documents Are

The Short Sale Package is similar to making an application to purchase a

Lien Amount Negotiated Short Sale

Lien Amount Negotiated Short Sale

3355 NE 13 Cir Dr #104

Lien Amount Negotiated Short Sale

Lien Amount Negotiated Short Sale

Lien Amount Negotiated Short Sale

See the corresponding Short Sale payoff approvals on the

In order to more easily see why the Short Sale option is

Why do I have to provide personal financial data?

Can I Short Sale the property myself?

Can I receive any proceeds from the sale?

Is there any guarantee that my lender will accept a Short Sale?

Will this cost me anything?

To hold myself to a higher standard, I registered my company with the

South Florida Short Sales

I invite you to call me anytime. It would be a privilege to have the

Why Work With Us?

Our priority is to create a WIN-WIN-WIN for all parties involved:

Homeowner – Avoids Foreclosure!

Since 2001 he has actively invested in real estate with

1-866-412-5269 You are welcome to contact him at

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