Because Every Short Sale Is Different, It Is Essential For Both Buyers And Sellers To Work With A Realtor That Is Trained, Certified And Experienced In Doing Short Sales!

  I’m Short Sale Certified With Millions Of Dollars In Closed Short Sale Transactions, Offering A Full Range Of Short Sale Services For Buyers And Sellers. Serving in Cook, Lake, McHenry, DeKalb, Kane, DuPage, Kendall, Will and Kankakee Counties in Illinois. For Any Information, Call 773-520-1522

Short Sale as an Alternative to Foreclosure?

A short sale is an alternative to foreclosure and may be an option if: You owe more on your home than it’s worth, You are behind on your mortgage payments, You are facing a long-term hardship, You are ineligible to refinance or modify your mortgage, You can no longer afford your home and are ready or need to leave. Do not hesitate to call me for any questions you have.

Some of my current listings you can see on my websites

 www.ChicagoShortSale-IllinoisForeclosure.com   

 www.AvoidForeclosure-ShortSale.com

But I’m not only a short sale specialist, I also work as a listing real estate agent and Realtor who works with many types of transactions. Professional real estate services for buyers and sellers.  VIEW MY SHORT SALE LISTINGS 

Looking for MLS & Short Sale Listings? RE/MAX Northern Illinois  real estate agents lead the industry in experience, professional expertise and production. Whether you need a Chicago real estate agent, a Naperville real estate agent, an Aurora real estate agent, or a Rockford real estate agent, with RE/MAX Northern Illinois you can expect exceptional customer service to both buyers and sellers.

Chicago Real Estate Agent, Regina Zak Tomas RE/MAX  agent can find you an Illinois Property or any property in the Chicago real estate area, including Northwest and Northern Suburbs of Chicago.

Biuro Posrednictwa Obrotu Nieruchomosciami w Chicago. Domy Odebrane Przez Bank w Chicago i Okolicach. Chicago Short Sale Po Polsku, Polski Agent Nieruchomosci, Polski Realtor, Kupno Domu,  Sprzedaz Domu, Kondominia, Nieruchomosci w Chicago,  Domy Na Sprzedaz w Chicago, Pozyczki.  

Buying a home again? Things have changed.

Much has changed in the world of real estate in recent years. The influence of Internet technologies has given buyers and sellers new ways to come together. If you’ve been through the home buying process before, it’s more important than ever to pick the right real estate professional.

In the present real estate market, you want an agent who will use the Internet to your advantage. As an action-oriented real estate agent, I fully understand how today’s technology can help you find the right home. My website allows you to search thousands of listings to locate the properties that best fit your needs. It’s a great tool for home buying, and free to use.

Call me today and we can discuss what you’re looking for in a home, and where to begin. I look forward to helping you.

Real Estate Agent Why you should use a real estate agent?

 If you’re considering buying or selling a home, selecting a real estate agent is the first important decision you will have to make. While there are many qualified real estate agents out there, it’s important to decide on a professional who will understand your needs and individual preferences, someone who you can respect and trust. Nearly four out of five homebuyers and sellers enlist in the help of a real estate professional or broker.Whether you’re looking to buy a new home or sell the one you’re in, choosing a professional who best fits your needs is vital.
   Selecting a Real Estate Agent

Illinois Real Estate  Top Real Estate Realtor in US

In Real Estate, a Short Sale - What is it?

A Short Sale is when a lender agrees to receive less than the original amount owed on the property, via negotiations, to be able to release the lien.

The Short Sale Process

The first step is to find out if a short sale is an available option for you.

Then the property is put into the market, and  after receiving an offer, the Hardship Package is given to the lender.

 If the lender approves the short sale, the file moves to closing

The Seller's Benefits, The Buyer's Benefits

The homeowner can eliminate their mortgage debts without financing repairs for the purpose of the selling the property

The lender pays for commissions and closing costs.

The seller’s credit report is not negatively affected by a foreclosure

Bankruptcy can be prevented.

The homeowner can stay on the property until the procedure is finished.

Buyers can buy property that has a below-market price. Also, the short sale properties are usually in better shape than foreclosure properties (don’t need as many repairs).

Work with a Real Estate Agent, Broker

A short sale has the potential to become very complicated. As a real estate agent, I am very persistent and patient with the short sale, using my abundant amount of experience to make the process as smooth as possible.

There is no cost for professional representation! The lender covers the costs of the real estate commission. Make sure a qualified real estate professional is representing you! 

FORECLOSURE VS. SHORT SALE

Current or Future Employment

Foreclosure; Employers have the right and are actively checking the credit regularly of all employees who are in sensitive positions. A foreclosure in many cases is ground for immediate reassignment or termination. Many employers are requiring credit checks on all job applicants. A foreclosure is one of the most detrimental credit items an applicant can have and in most cases will challenge employment.

Short sale: A short sale is not reported on a credit report and is therefore not a challenge to employment.

Deficiency Judgment

Foreclosure: In 100% of foreclosure (except in those states where there is no deficiency) the bank has the right to pursue a deficiency judgment.

Short sale: In some successful short sales it is possible to convince the lender to give up the right to pursue a deficiency judgment against the homeowner.

Deficiency Judgment (amount)

Foreclosure: In a foreclosure the home will have to go through an REO process if it does not sell at auction. In most cases this will result in a lower sales price and longer time to sell in a declining market. This will result in a higher possible deficiency judgment.

Short sale: In a property managed short sale the home is sold at a price that should be close to market value and in almost all cases will be better than an REO sale resulting in a lower deficiency.

Future Loan with any Mortgage Company

Foreclosure: On any future 1003 application, a prospective borrower will have to answer YES to question C in Section 7 of the standard 1003 that asks "Have you had property foreclosed upon or given title or deed in lieu thereof in the last 7 years?" this will affect future rates

Short sale: There is no similar declaration or question regarding a short sale.

Credit Score

Foreclosure: Your score may be lowered anywhere from 250 to over 300 points, typically affecting your score for over 3 years.

Successful short sale: Only late payments on mortgage will show and after sale mortgage will be reported as paid or negotiated. This will lower the score as little as 50 points if all other payments are being made. A short sale's effect can be a brief as 12 to 18 months.

Credit History

Foreclosure: Foreclosure will remain as a public record on a person's credit history for 10 years or more.

Successful short sale is not reported on credit history. There is no specific reporting item for 'short sale'. The loan is typically reported 'paid in full, settled, paid as agreed'.

REO - definition of REO - Real Estate Owned. Property which is in the possession of a lender as a result of foreclosure or forfeiture.

Foreclosure - definition of foreclosure - The legal process by which a mortgaged property may be sold when a mortgage is in default.

Definition: BPOs are often associated with foreclosures and short sales. A BPO, or broker price opinion, is a broker's opinion of the value of a property in the current market.

Do not hesitate to call me for free service and for more information, or if you have any questions about listing and selling your short sale property for free!
I don't charge any fees for short sale listing and service! In a successful short sale your bank pays for the Realtor commission, attorney fees, title company fee, and any other closing costs.
Simply list and sell your short sale property for free!

What to do if your home won’t sell  Consider lowering price  

Pricing, property condition more important to today's buyers Selling in this market is not easy. But, sellers who understand the market can do well selling today. They must be realistic about what they need to do to prepare their home for sale. Sellers also must be committed to the process. There is no margin for error when it comes to pricing. If you can't bring yourself to price to sell, you're not a committed home seller.

 Simple tips for making your home more energy efficient  Owners-Conserving Energy  

 10 tax tips for home sellers  IRS Tax Tips

   Short sales links  advertising

Chicago Short Sale. Very Nice 3 Units Brick And Frame Building     3742 N Albany Ave, Chicago

Evanston Short Sale Three Levels Townhouse, Big Kitchen, Recreation Room, Private Fenced Back Yard      3347 Church St, Evanston Short Sale, IL 60203         QR Code, Property Report

Prospect Heights Short Sale Beautiful Townhouse, Excellent Location, Modern Open Floor Plan, Garage 1046 N Cove Dr Prospect Heights, Short Sale      QR Code, Property Report

Chicago Short Sale Spectacular Condo, Granite C-Tops, 11' High Ceilings, Heated Garage  3963 W Belmont Ave. Chicago, IL 60618

Lyons Regular Sale Two Beautiful Condos, Many Updates, Excellent Location Across From Grammar School                  8302 W 47 St Lyons, Illinois 60534, Unit 1

Mount Prospect Short Sale Modern Open Floor Plan, Kitchen Has Dining Area, Formal Dining Room. Absolutely Gorgeous Private Deck Surrounded By Mature Trees 1015 Arbor Ct Mount Prospect, Illinois 60056 Short Sale   QR Code, Property Report

Condo, Chicago Short Sale The Property Features: Balcony, Storage, Parking Space. Excellent Location: Walking Distance To Schools, Forest Preserve, Bus, Shopping   8701 W Foster Chicago, IL Short Sale

Chicago Short SaleThe Property Features Beautiful Hardwood Floors, Newer Kitchen With Granite C-Tops, New Cabinets And Windows. 3130 N Odell Ave Chicago IL Short Sale  QR Code, Property Report

 Franklin Park Short Sale. The Best Location In Franklin Park.  9135 Chestnut Ave. Franklin Park IL, Short Sale    QR Code, Property Report

Des Plaines Short Sale. In The Heart Of Downtown Des Plaines! A Great Place To Call Home.             QR Code, Property Report

 Chicago Short Sale Excellent Location, Just One Block To Sheridan Rd, Beaches, Michigan Lake, CloseTo Loyola University.                   QR Code, Property Report

  Three Unit Home In Chicago, Short Sale. 

 Chicago Short Sale. Spacious 1Bed Unit, Indoor Parking Space Included In The Price.

 Chicago - Jefferson Park, Short Sale. Beautiful! Granite C-Tops, Fireplace, Marble Bath, 2 Car Attached Garage.

  Short Sale in Chicago. A Great Investment In West Logan Square! Large Two Flat Bldg Plus Finished Attic, 2 Car Garage.

  Chicago Ridge, Short Sale. Absolutely beautiful, recently rehab. 2 bedroom condo.

Find a RE/MAX Northern Illinois Real Estate Agent

When it comes to choosing  and working with your real estate agent, consumers who do their homework can save thousands of dollars and experience a smooth financial and physical transition. So don't waste time and resources - decide what's most important to you, and then find a professional real estate agent. Are you buying or selling a loft? A condo? A rural property? Raw land? An investment property? Short sale? Pre Foreclosures? Foreclosure? Perhaps cost is your main concern or timing. Whatever you decide, please contact Regina at (773) 520-1522 - Chicago Top Agent, Broker.

The Home Affordable Foreclosure Alternatives (HAFA) Program provides additional options to avoid costly foreclosures and offers incentives to borrowers, servicers and investors who utilize a short sale or deed-in-lieu (DIL) to avoid foreclosures. HAFA alternatives are available to all HAMP-eligible borrowers who: 1) do not qualify for a Trial Period Plan; 2) do not successfully complete a Trial Period Plan; 3) miss at least two consecutive payment during a HAMP modification; or, 4) request a short sale or deed-in-lieu. HAFA Policy Updates  

Chicago Real Estate

  Bank Foreclosed Properties.  A HUD home is a 1 to 4 unit residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage.

 Real Estate Foreclosure Listings

 IRS Tax Auction

Free credit report    This site allows you to request a free credit file disclosure, commonly called a credit report, once every 12 months from Equifax, Experian and TransUnion.

Chicago Agent   For the well-informed real estate professional.

 Cook County Treasurer's Office     Lake County Treasurer's Office
 DuPage County Treasurer's Office    Will County Treasurer's Office   
 Kane County Treasurer's Office      Kendall County Treasurer's Office

 McHenry County Treasurer's Office

Chicago N, NW Suburbs: Arlington Heights, Des Plaines, Elmwood Park, Glenview, Harwood Heights, Morton Grove, Mount Prospect, Niles, Norridge, Northbrook, Park Ridge, Schaumburg, Wilmette, Winnetka. 

    Check my rep.score!

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"My husband and I can not say enough about how wonderful it was to work  with Regina.  We always knew that she was in  our corner, trying to get us the most for our money.  We would highly  recommend her to anyone looking for a trustworthy, patient, and  reliable agent.  

Dayna Malow   http://www.daynamalow.com/ "

"Regina was very helpful through the whole home buying process. As first time home buyers, we had many questions about the whole process. She offered great advice in selecting a home, ranging from repair and maintenance considerations to the closing process.

Scott Burns,   http://www.scottburnsjazz.com/ "

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