2ShortSaleGuys were formed in 2011 to assist homeowners in preventing foreclosure.  For years, we have worked with foreclosures listings and sold foreclosures.  We begin searching for ways to assist homeowners in preventing foreclosure.

After almost 20 years in Law Enforcement, Bill Bythewood wanted something different for his wife and kids.  He needed something different, something safe and he enjoyed working with people so he made the choice to get his Real Estate License.  Bill obtained his Georgia Real Estate License in 2003.  He began working with buyers and sellers to buy and sell homes and was very productive.  He quickly became one of the Top Sales Associates at Keller Williams and began making a name for himself.  He quickly began obtaining clients such as banks and asset management companies that needed experienced agents to sale their foreclosure properties.

Nakia Brooks began his career in Real Estate by obtaining his real estate license in 2006.  He too has spent many years in Law Enforcement and felt the need to help people in other ways.  Upon issuance of his Real Estate License, he began working with Bill as a Buyer’s Agent.  Assisting Buyer’s and obtained his Accredited Buyer’s Representative designation, demonstrating his expertise and dedication to buyer’s.  Upon leaving Law Enforcement he began listing homes and managing rental properties for his clients.

We know that life happens.  That’s why we have made it a priority to help those homeowners.  We have dedicated our entire careers to helping people, first in Law Enforcement and now in Real Estate.

There are several ways to prevent foreclosure.  The first way is to pay your mortgage on time and at the end of the loan you will own the home without mortgage liens.  However, as everyone is well aware things happen and we cannot always make those payments in a timely manner because sometimes things beyond our control occur.  Next thing you know, one month behind turns into two months and then we are starting to get foreclosure notices. 

The first option is to ask your mortgage lender to consider modifying your loan.  Although this sounds good in theory, statistics show that less than ten percent of loan modifications applied for get approved.  Here is why – typically a loan modification is an internal re-finance within the lenders organization.  When your home doesn’t appraise for at least the loan amount then they cannot re-finance it. 

The second option is deed-in-lieu of foreclosure.  This is where you give your home to the lender in exchange for the lender canceling the loan.  There are a couple of negatives with this approach.  First, if you have more than one loan on the home, often the second or third mortgage will not accept a deed-in-lieu.  Secondly, most mortgage lenders want cash, not homes, they already own thousands of homes because they foreclosed on other unfortunate home owners.  Most banks are asking that you place your home on the market as a Short Sale.

A Short Sale is essentially where you sale your home for less than you owe on the property.  In exchange, the bank forgives some or all of the deficiency balance.  There are several good things with a Short Sale.  First, you know right up front whether or not you are going to have to pay some or all of the deficiency balance.  Your credit doesn’t take as big of a hit if the bank allows the Short Sale,  and you  can possibly purchase another home sooner than you would be able to if you were to have been foreclosed on.

Short Sales take time, sometimes up to six or nine months depending on the mortgage company.  You need to ensure when you choose a REALTOR®, you choose someone that specializes in Short Sales.  Someone who has documented proof that they have sold Short Sales and that they have taken them all the way to closing.  You need to ask what kind of training they have, do they have others working for them or with them, and ask about their training.  The more educated your Realtor® is about Short Sales the higher probability you will have of selling your home and preventing foreclosure. 

BILL BYTHEWOOD
REO Foreclosure Specialist – Short Sale Specialist
REALTOR ®

NAKIA BROOKS
Short Sale Specialist – Accredited Buyer’s Representative
REALTOR ®

MELANIE YARBERRY 
Short Sale Facilitation Assistant