A short sale is a sale of real estate in which the sale price of the property will fall short of the outstanding balance of the mortgage of the property. There are a few different factors that can contribute to a short sale, but the biggest one is the low appraisal and drop in property values. Click to read more about Short Sales.
A short sale gives the lender the ability to cut their losses up front thereby avoiding the expense and time of a foreclosure and potentially greater losses. Lenders want to make loans; they do not want to be in the business of owning and managing real estate. Whether the lender chooses to go through with a foreclosure or agree to a short sale, they are taking a loss either way, but in many cases they would take less of a loss with a short sale and resolve the matter in a comparatively shorter time frame. In nearly every case, a short sale offers a significantly better return on the lender’s investment than a foreclosure does. Click to read more about Short Sales.
Yes. However specific lenders have specific requirements on how soon a deal must be approved before a Sale date. That is why it is worthwhile to work with an experienced short sale team. Such as the Distressed Properties Solutions Network. Click to read more about Short Sales.
No, but as they say “Experience is the Greatest Teacher”. Here at DPS Network we make Short sales our main focus, this combined with our Trademarked LOCK SQUARED Program we close more Short sales and we close them quicker. Click to read more about Short Sales.
Every short sale is different and depends as much on the lender as it does on the listing agent. Some listing agents outsource their short sale negotiations to a third party, which can often delay a response. Here at DPS Network, we have all of the necessary people under one network. This allows us to close quicker and avoid delays that are typical of the short sale process. Click to read more about Short Sales.
Yes. However, Short Sales are more preferable to Foreclosures. Short Sales show up on a credit report as a “pre-foreclosure in redemption” status and can result in a credit score reduction of 100 points or less. After the sale, the mortgage may show up as “discharged.” People who successfully complete a short sale may also qualify for a mortgage at a reasonable interest rate in as little as 18 months or less. So, if buying a home is a future goal, then a short sale is a better option. Click to read more about Short Sales.
The answer is almost certainly – No. ​The lender’s going require that you fulfill and satisfy a number of conditions and terms before they agree to let you sell your property short. The lender will require you to sign an arm’s length affidavit, attesting to the fact that you are not selling your property to a friend or relative or business partner. Moreover, that arm’s length affidavit is going to prohibit you from engaging in any sort of back room dealings with the prospective buyer. That means there are no behind the scenes or covert buyback agreements or rental agreements between the parties. And that’s because the lender wants to make absolutely certain that they’re justified in their decision to award a short sale and let you off the hook for that remaining balance. Click to read more about Short Sales.



For homeowners that do nothing or try to go to court themselves it can be as short as 7-9 months. However, if you hire a specialized foreclosure defense attorney that puts on a vigorous defense your case can be significantly extended or stopped. ​Click to view the Illinois Timeline of Foreclosure.
Yes, it is not unusual for a modification to be denied, each case is different, and why the modification was denied must be determined. Only then, can we call and fight for other programs. Each lender is unique in their requirements and guidelines to approve a loan modification. Call us at (847) 543-0202 TODAY so we can figure out why you were denied and we can be your partner throughout your financial recovery ​Click to view the Home Affordable Modification Program Guidelines.
A review with a qualified specialist is necessary for all property owners to ensure they have a thorough understanding of the modification and all of its provisions, to avoid problems in the future. ​Click to discuss your specific situation with a property specialist.
Yes, bankruptcy will temporarily stop the foreclosure action. However, not everyone can qualify for Bankruptcy, but it can be an option for homeowners who are facing a foreclosure sale date and are unable to get their loan restructured. We often find that Bankruptcy is better used as a part of a comprehensive strategy to improve your situation not a stand-alone action. ​Click to discuss your specific situation with a property specialist.
Tax Liability is greatly affected by the way your foreclosure case is handled. The main concern is being protected from a deficiency judgement. The key is to negotiate with the lender to forgive the debt. There are also many factor that can impact your tax liability so it is best to consult a professional regarding your situation. ​Click to discuss your specific situation with a property specialist.
For most Property owners, we suggest for that you save as much money as possible while looking for a job. Lender programs to help unemployed property owners are few and far between, also if there are other sources of income, we can use this and other factors to help get the best possible outcome for property owners. ​Click to discuss your specific situation with a property specialist.
No. It is impossible to guarantee results in a given case. Every situation is unique in its details and we always endeavor to improve your circumstances. We can guarantee that your situation will be handled professionally and with the utmost consideration. ​Click to discuss your specific situation with a property specialist.


If your lender sends you an offer, IMMEDIATELY fax the documents to DPS Network, and we will contact you and discuss the offer with you. You will then be able to make an informed decision how to proceed. Any offers from the lender are time sensitive and require your immediate attention. ​Click to discuss your specific situation with a property specialist.
Yes, if your loan modification is denied, or if you just want to change the goal with your property, please contact us immediately to talk about these options, This is the benefit of working with a network of professionals, instead of just one. We are more easily able to switch strategies for you, to help achieve the desired outcome. ​Click to discuss your specific situation with a property specialist.
Of course. All of our attorneys support open lines of communications. Keeping in mind, most days the attorneys are in court and cannot immediately respond, they will however call you back as time permits. In most cases it is easier to reach us here at DPS Network – (847) 543-0202 and we have access to the attorney’s updates on your case and the notes they have entered regarding your case. Also most clients prefer to discussing their case with DPS liaison’s because they can explain the status in real world terms avoiding legal jargon. ​Click to discuss your specific situation with a property specialist.