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GMA in the News 

Feds sweeten housing rescue program
Miami Herald
Avi Shenkar, president of GMA Modification in Miami Beach, said things were improving.... Read the rest

Tracking Loans Through a Firm That Holds Millions
NY Times
Avi Shenkar, whose company, the GMA Modification Corporation in North Miami Beach, Fla., helps homeowners renegotiate mortgages... Read the rest

Scams target homeowners seeking foreclosure rescue
Miami Herald
Shenkar said eight out of 10 GMA customers had first sought assistance from their lenders but were unsuccessful.... Read the rest

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 Short Sales 

Property is Worth Less Than The Balance, Mortgage Payments Too High, Short Selling is The Only Option!

With the depreciating real estate values most people dont have the option of refinancing anymore. If you are stuck in an unaffordable mortgage payment where it makes more sense to sell the property and purchase a less expensive home or rent, short sales are the best way to go about this. Why short sale rather then foreclose? Short sales affect your credit much less then a foreclosure, a foreclosure will completely destroy a borrowers credit profile and score. A foreclosure will also most likely result in a "Deficiency Judgement", which is a judgement placed on the homeowner for the amount the lender loses by having to sell your property at a foreclosure auction.

Let us evaluate your situation, negotiate with your lender, find a buyer, and get you out of the situation you are in!

Short Sale Example 

Short Sale Example

Current Situation

Estimated Value

Mortgage Balance

Sales Price

Cash to Close

$350,000

$412,000

$420,000

$62,000

Short Sale Situation

Estimated Value

Adjusted Mortgage Balance

Sales Price

Cash to Close

$350,000

$308,000

$315,000

$0.00

Assumptions
 
 
 
 


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