Contact Information

    Frank W. Phillips

    1760 Oxmoor Rd.

Birmingham, Al. 35209

    Ph: 205-821-5410 frank@frankphillips.net

Need to ease the pain of an unstable and confusing real estate market?

I am a Certified Distressed Property Expert® (CDPE) and I have a thorough understanding of the complex issues in today’s turbulent real estate industry and knowledge of foreclosure avoidance options available to homeowners. As a CDPE I can provide solutions, specifically Short Sales for homeowners facing market hardships.

Homeowners regularly proceed without guidance of any kind through the often financially and emotionally devastating prospect of foreclosure. Speaking with a well-informed, licensed real estate professional is the best course of action for a homeowner in distress. Through comprehensive training and experience, I have the tools to help homeowners find the best solutions for their unique situations and to avoid foreclosure through the efficient execution of a short sale.

I don’t merely assist in selling properties, I serve and help save my clients in need.

What is a Short Sale?

A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Recent changes in corporate policy and the Obama administration have also improved the chances of getting a short sale approved.

But to be technical, here's a more official definition:

1. •A homeowner is 'short' when the amount owed on his/her property is higher than current market value.
   

2. •A short sale occurs when a negotiation is entered into with the homeowner's mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer closes on the property, and the property is then 'sold short' of the total value of the mortgage.
   

3. •
   

For homeowners to qualify for a short sale, they must fall into all of the following circumstances:

1. •Financial Hardship – There is a situation causing you to have trouble affording your mortgage.
   

2. •Monthly Income Shortfall – In other words: "You have more month than money." A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
   

3. •Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.
   

This seems simple enough, but it is a complicated process that takes the expertise of an experienced professional. Together, you and I can identify all possible options and, when possible, as a CDPE I will assist you in the quick execution of a short sale transaction.

Thank you for visiting today. If this is your first visit, take your time and look around. I have plenty of information and resources available to you. If you are a return visitor, thank you. I would love to hear from you and tell you how I can serve all your real estate needs.