(Newswire.net — June 22, 2016) Mamaroneck, New York — In today’s volatile real estate market and sluggish economy, many homeowners struggle to pay their mortgages on time. Failure to make timely payments can result in banks moving to foreclose on a property. Todd David Realty, a New York-based real estate firm, has assisted many homeowners with advice on how to stop foreclosures. One of the prevailing industry trends is to sell the home for less than what is owed to the bank. This is referred to as a short sale or a pre-foreclosure sale. By selling the home as a short sale, property owners can avoid the embarrassment associated with bank foreclosures. Todd Gessow, the founder of the Short Sale Network and the company’s principal broker, knows that there are several bank incentives available for homeowners during the short sale process. “Now is a great time to sell a home via a short sale,” says Todd. “Bank and government incentives give homeowners negotiating power during the short sale process.” To learn more about the brokerage and its services, visit www.todddavidrealty.com/faqs.
Recent developments in government programs and bank-sponsored incentives signal that lenders are more willing to work with homeowners than ever. Among the government programs, the Home Affordable Foreclosure Alternatives Program (HAFA) recently increased their incentive from $3,000 to $10,000, leaving homeowners with more money for relocation assistance. The U.S. Internal Revenue Service also renewed its Mortgage Forgiveness Debt Relief Act, allowing taxpayers to exclude income from the sale of their principal residence for tax purposes. Several banks have also increased their short sale incentives, with both Chase Bank and Bank of America offering $45,000 incentives to do a short sale in lieu of foreclosure proceedings. “Short sales can be confusing and take time to complete,” adds Todd. “Our expertise, coupled with these programs and incentives, help to reduce the stress and financial uncertainty surrounding the short sale process.”
Todd David Realty and its team of short sale specialists negotiate with lenders to ensure favorable outcomes. The broker can help stop the foreclosure process and give homeowners a fresh start, all at no cost to the property owner. In most cases, lenders forgive the outstanding debt once a short sale agreement has been reached. For more information on the short sale brokerage and their service to the New York metropolitan area, visit www.todddavidrealty.com.
About Todd David Realty, LLC
Serving the New York metropolitan area, Todd David Realty is a state-licensed broker that specializes in managing short sales for homeowners trying to avoid foreclosure on their properties. The firm’s team of short sale specialists work to provide timely advice, legal assistance, and quick processing throughout the process. Based in Mamaroneck, New York, the brokerage has helped hundreds of property owners avoid foreclosure auctions with their expertise in the field of real estate.
Todd David Realty, LLC
1600 Harrison Avenue, Suite G106Mamaroneck, New York 10543
United States
(914) 600-7992
tgessow@gmail.com
http://www.todddavidrealty.com/