Proven Short Sale Process Helps Borrowers Who Are Behind On Their Mortgage!

Online, September 27, 2010 (Newswire.com) - In this broken economy, those who are suffering can almost never get the help they need or deserve. Foreclosures are at an all time high, and banks are in almost no position to make the process any simpler. There are very few solutions available, especially ones that most people know how to deal with. One of these few solutions is called a "short sale" which is a way to avoid foreclosure and eventually bankruptcy. A short sale is when the bank accepts a payoff less than what is owed to them in order to close the file as paid.

Thankfully there is a company in the DC Metropolitan Area that provides a solution for this very common situation. That company is Xtreme Holdings.

Xtreme Holdings, LLC is dedicated to informing troubled homeowners that there are options and legal ways to avoid foreclosure in Maryland, specializing in Montgomery County and PG County. They are a leading real estate investing company specializing in finding solutions for homeowners, agents, buyers and sellers.

Xtreme Holdings' business model allows the seller to be represented by a trusted local attorney with an over 90% closing ratio who gets paid directly from the bank only when an approval letter is provided and there is a successful closing. This allows the entire process to be accelerated and get an approval in a shorter period of time.

The attorney will first meet the seller in person to review the seller's financial situation and determine if a short sale is the best option when a loan modification is not possible. A customized short sale package will be put together along with the cash offer made by Xtreme Holdings; this offer has more weight in the eyes of the bank. With an offer in place, the attorney will start negotiations with the lender(s) in order to get them to approve a short sale payoff amount. An added benefit to their process is the ability to track the status of the case through a state of the art online management system; this will ensure the seller is on top of every detail until the closing date.

The entire short sale process generally takes 3 to 4 months. The length of time may be less or more, depending on your loan servicer. For example SunTrust, HSBC, Aurora Loan Services are among the fastest ones and the slowest ones are Chase Bank and Bank of America.

Overall the main difference between having Xtreme Holdings as a buyer, as opposed to anybody else is the fact that they have a vested interest in closing on the seller's property as soon as possible, helping the troubled homeowner get rid of the toxic asset and allowing them to move forward with their life.

In summary here are some of the things Xtreme Holdings can do for troubled homeowners in MD:

• Submit a CASH offer to accelerate the negotiation process.
• Prepare a comprehensive Property Conditions and Market analysis to back up offer.
• Prepare a BPO Package (articles, reports, etc.) for the bank's BPO agent to accelerate bank's approval.
• Work closely with the seller's agent to ensure a smooth process.
• Replaces the impatient buyer who leaves the seller hanging after 7 months of negotiation.
• Has a vested interest in closing on your the property as soon as possible.

If somebody is behind on their mortgage payments they shouldn't feel alone, since they are among the many that got caught up in a house which is not worth what they paid for. Now is the time to be among the few who have successfully closed a short sale transaction, thereby avoiding a painful foreclosure and bankruptcy. The foreclosure clock is ticking and most sellers in a distressful financial situation may soon run out of time. Borrowers that are currently upside down on their mortgage would benefit from setting up an appointment with an Xtreme Holding's representative so they can provide a solution for the borrower's unique situation.

*Xtreme Holdings also offers consultations in Spanish