SAFAssist


Short Sale and Foreclosure Assistance—services at no out-of-pocket cost to the seller.

Navigating a Short Sale or Foreclosure

Today's economic conditions and real estate market often involve owners whose property has secured loans and other liens that exceed its value, or who have been unable to pay their mortgage and are threatened with foreclosure. Neither situation necessarily prevents a sale when the process is properly managed.

The SAFAssist Program was designed to offer legal and administrative assistance—whether it's a short sale situation or a foreclosure that has been threatened or already commenced. These benefits are provided to our clients at no out-of-pocket expense, with costs paid from the proceeds of sale that would otherwise go to lenders and lienholders.

Enrollment in the program entitles you to an independent, local attorney who will represent you in all negotiations with banks and lienholders. You are also assigned a dedicated document coordinator who works with you and your Coldwell Banker Howard Perry and Walston agent to gather the documents required for your particular situation.

At a Glance
  • No out-of-pocket cost to the seller
  • Independent, local attorney representation
  • Dedicated document coordinator
  • Available anywhere in North Carolina

Benefits of Enrolling in SAFAssist

All of these services are provided at no out-of-pocket cost to the seller.

Experienced Legal Representation

Legal representation for the short sale process and/or advice about foreclosure by an experienced short sale attorney.

Debt & Tax Relief Focus

A focus on your need to eliminate or reduce future liability for debt and the income tax ramifications of debt relief.

No "Out-of-Pocket" Negotiation

An attorney negotiates on your behalf at no out-of-pocket expense—working for short sale approval, minimizing the effect on your credit score, and assisting with foreclosure extension requests.

Do You Qualify?

A short sale is an agreement in which your mortgage lender agrees to accept a payoff on the loan for less than the balance owed. Many lenders agree to a short sale because they recover more of the loan balance than they would through a foreclosure sale.

A short sale is not a typical real estate transaction. In addition to the seller, buyer, and their agents, it can involve the seller's mortgage holder, mortgage investors, and mortgage insurers. Anywhere in North Carolina, a SAFAssist expert will provide a confidential, no-obligation consultation to discuss your options.

Who May Be Involved
  • Seller & buyer
  • Real estate agents
  • Mortgage holder
  • Mortgage investors & insurers

Getting Started

Here's what to expect as you move through the SAFAssist process.

1
Contact Your Lender

Contacting your lender first shows your intent to resolve the matter with honesty and to satisfy the loan balance on your home to the best of your ability.

2
Contact SAFAssist

We'll arrange for you to be represented by an attorney to assist with the activities in the process that require a practicing law expert. Our team will be an incredible ally in the process, offering guidance and recommendations and ultimately being key to the success of a short sale.

3
Together, We Will Determine If You Qualify

An analysis of your financial situation and the hardships you are facing will determine if you qualify for a short sale.

4
Assistance with Gathering Necessary Documentation

Examples of documentation required:

  • Letter of Authorization: Includes the property address, loan reference number, your contact information, the date, and your real estate agent's name and contact information.
  • Preliminary Net Sheet: An estimate of the sales price you expect and the expenses associated with the sale, including unpaid loan balances and fees.
  • Proof of Income: Bank statements, savings accounts, and information regarding investments, cash, and additional real estate you own.
  • Comparative Market Analysis (CMA): Prepared by your real estate agent, showing similar homes currently on the market, pending sale, or sold in the last six months.

Although we knew a significant portion of homeowners in the market were in need of a short sale, we've had far more demand than we expected. SAFAssist is one of many differentiating factors Coldwell Banker Howard Perry and Walston offers in the marketplace. Some companies offer short sale and foreclosure assistance, but ours is the only one with no out-of-pocket costs and a local, independent real estate attorney.

KR
Karen Ross
Market Title Manager, Coldwell Banker Howard Perry and Walston

Our motivation in devising SAFAssist was two-fold. First, we wanted to address the pressing needs of homeowners who need to sell, even though they are "underwater," and especially those who generally have no choice but to sell their homes when they find themselves facing foreclosure. Second, we wanted to support our sales associates—proper understanding and management of a short sale is very technical, and many homeowners cannot afford an attorney. SAFAssist provides legal and administrative assistance to these owners at no out-of-pocket cost.

RB
Roger Bernholz
General Counsel, Coldwell Banker Howard Perry and Walston

Request a Confidential Consultation

Complete the form below and a member of our SAFAssist short sale and foreclosure assistance staff will contact you.

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