Derry, New Hampshire (PressExposure) December 26, 2011 -- Short Sale Mitigation / AA Premier Properties, LLC is thrilled to share they obtained a $23,000 payout at the closing of a home on Lawrence Road in Derry for the struggling homeowners.
"First I want to say this is not normal. On occasion we've been able to get homeowners who are short selling their properties a small amount of money," exclaimed Maryann Little, VP of Short Sale Mitigation, "however, JP Morgan Chase offered an incentive that we directed the homeowner to apply for and we're thrilled they were awarded the payout."
There were over 700 homes scheduled for foreclosure in New Hampshire in November of 2011 (Real-Data.com). "That doesn't reflect the number of homeowners in default in the state," says Nick Aalerud, Managing Broker of AA Premier Properties, LLC. "Unfortunately the number of foreclosure petitions is slowly rising in Massachusetts. I think in October there were over 10,000 petitions filed, however in Massachusetts the process drags out a bit more. In New Hampshire, the foreclosure process happens much quicker." Aalerud says it was sheer determination that got the short sale approval for the homeowners and explained the sale had to be pushed all the way up the chain of command at JP Morgan Chase.
Leslie and Christopher Marsh put their home on the market in May of 2011, with the help of Tom McGuirk (Weichert Realtors), a seacoast New Hampshire Realtor that has worked with AA Premier Properties, LLC / Short Sale Mitigation, LLC in the past. "Homeowners usually are frustrated with "conventional" methods (loan mods etc) and are relieved when AA Premier Properties, LLC can offer to navigate through this process for them." McGuirk marketed the Marsh's home and had the property under contract fairly quickly. "Setting Reasonable expectations with both Buyer and Seller (and Perseverance)," is McGuirk's number one tip to a successful short sale transaction. McGuirk explains his reasoning for working with a 3rd party short sale negotiator, "They are professionals in the field. And abreast of all changes in the law that a Realtor may not be. It allows me time to actually sell real estate and not be a secretary for the banks." McGuirk is currently ranked #1 agent for 2011 at Weichert Realtors; as one of the top agents with regard to transactions.
The payout was awarded this month, at the closing of the property. Leslie Marsh, the owner of the home in Derry explains, "That first phone call with Maryann led to a relationship that extends much deeper than business in my husbands and my eyes. My very first conversation with her left me with more hope than we had had in over 2 years. She very kindly listened to me ramble on for what must have seemed like hours, late into the afternoon describing our circumstances." Marsh had struggled with her home payments after job loss and was awarded a modification, but health forced the family into a deeper financial burden. "The best thing is we are able to walk away with our heads held high knowing that this awful time in our lives is over. We didn't have to pay a thing for Short Sale Mitigation to work with us. They never asked us, the already strapped sellers, to handle their fees in addition to what we were already dealing with!"
"Payouts to homeowners who are selling their home short, are not a typical. When the lender is getting less than what they are owed on the property, they don't necessarily like to see the homeowner receive money at closing," Little explains. "Lately, however, we've been able to obtain some payouts for homeowners. The banks want the non-performing asset off their books, so they are offering these incentives, and there are also government programs that allow a moving incentive."
Little and Aalerud's company negotiates on behalf of homeowners. "The greatest compliment we can get is when a Realtor or homeowner refer us to someone else," Aalerud says, "It means we've done our job well."