Our Number One Goal

PROSPERO SOLUTIONS PROVIDES MORE OPTIONS WHEN YOU NEED TO SELL A PROPERTY

If you decide the best solution is to sell your property, we can help. Whether or not you have equity in the property, we can work with you when you want to sell your home.

Selling your house is a big decision. For many people, selling will be the best option to solve their financial crisis. For others, such as homeowners with substantial equity, selling may not be the best solution. Contact Us to discuss the solutions and strategies available to help you achieve your desired outcome.

If you are behind on your payments:

• We can make up your back payments and save your credit.
• If you have equity, we can purchase it from you.
• If your property is underwater (no equity), we can work with the bank(s) to purchase your property and save your credit.

If you are current with your payments:

• Are you struggling to pay the mortgage each month?
• Has the value of your home dropped to a point that it doesn't make economic sense to continue making the payments?
• We will look at your individual situation and work with you to buy your property and save your credit.

If your property is already listed with a real estate agent, we can negotiate with the agent to come up with a solution that will be beneficial for all parties involved.

BENEFITS OF SHORT SELLING WITH PROSPERO SOLUTIONS

Our specialty is purchasing properties through the short sale. A short sale is defined as a transaction where the lender allows a property to be sold for less than the amount owed on the mortgage. We understand the bank's loss mitigation process and have a team of professionals who step you through the short sale process. Lenders are not in the business of buying and selling real estate. In fact, foreclosing on your property is expensive and time consuming for the bank. Today more than ever, lenders must do what is necessary to minimize losses on their non-performing assets. In many cases, a pre-emptive offer or attempt to sell your property, even for less than what is owed, will actually be a better option for the lender than foreclosure.  

There are benefits to having Prospero Solutions purchase your home when a short sale is necessary. We cannot guarantee any specific results, but we strive to do what is best for you.

• The first benefit is not wasting any time waiting for a buyer to appear. We submit an offer to the lender(s) and begin negotiations right away.
• We will not walk away from negotiations halfway through the process as most retail buyers are apt to do. Short sale negotiations can take anywhere from 3-6 months to close. We see all negotiations through to a result.

• We are committed to doing what is in your best interest as we negotiate. Clearly getting the house sold is the main goal; however, there are times when the lender quotes a sale price and asks for you, the homeowner, to sign a promissory note stating you will pay them back a certain amount of money. Should a promissory note come into play, we are in a position to raise our offer in order to waive that note. The lender knows that taking our cash now is better for them than issuing a promissory note on which they may never get paid. The lender could also have you sign a note and wait to collect it down the road when you are financially stable. If the situation is not negotiated properly upfront and marked ‘satisfied’ or ‘paid in full’ in the sales price acceptance letter, there is always the fear of the lender coming after you at a later time. Making sure all loans are noted as ‘satisfied’ or ‘paid in full’ is also easier on your credit score.

Another concern is the tax implications of a short sale. Prospero Solutions is not a tax professional and does not provide financial advice so we suggest consulting a tax professional to work with you to lessen the impact of potential taxes. There are resources at the Federal level to minimize or waive potential taxes. (See IRS Form 982 & the Mortgage Debt Relief Act of 2007). As of April 8, 2010, the California Legislature passed a bill which provides tax relief for homeowners who did a loan modification, faced a foreclosure, or sold a property through a short sale (see CA Mortgage Forgiveness Debt Relief). The new legislation brings the State tax laws in line with the Federal tax treatment for homes lost in the current housing crisis. This tax relief will be in effect until 2012. For states other than California, consult a tax professional to assess the potential State income tax consequences.

A successful short sale allows you to get out from under a home where you owe more than it is worth. minimizes tax implications, and saves you from a foreclosure on your credit rating.

Contact Us now to discuss the home selling services Prospero Solutions has available. Our goal is to help you AVOID FORECLOSURE altogether -- to keep your credit from incurring a foreclosure and to wipe your slate clean of mortgage debt. The last thing we want to see is a property owner lose hope...and do NOTHING. Negotiating a short sale takes time--a luxury you do not always have when in foreclosure. Remember time is truly of the essence! Contact Us today.