Chicago Area Short Sale Expert Offers Underwater Home Owners Alternatives to Foreclosure

Short Sale Expert Offers Underwater Home Owners Options


Fox Valley area specialist, Jennifer Kinzle, and Fox Valley Short Sales with Charles Rutenberg Realty of Illinois are working with foreclosure experts across the Chicagoland area to help others avoid foreclosure.

Fox Valley Short Sales

“In the beginning, I started with local property investors from my Meetup group, Fox Valley Investors .  They had clients that they were unable to assist, or who didn’t fit the profile.  So they would give my name to the homeowners looking to avoid foreclosure.  That really started my  distressed property specialization,” Kinzle said,  “Some folks are just barely underwater on their mortgages, some are several years’ of mortgage payments behind.  I can offer options that many folks don’t know is out there.”

Illinois is one of five states with a high percentage of underwater mortgages

2015 – 5 States With Highest Percent of Underwater Mortgages

Using her expertise, she raises awareness of other programs, offers suggestions on how to best work with lenders and suggests when an attorney or HUD home specialists might be needed.  Kinzle and the Fox Valley Short Sales team work with a large network of experts and residential housing professionals to educate the public, offering guidance and professional advice as it relates to the housing market, for both distressed foreclosure sales and regular sales.


“Short sales can be a solution, but only when the homeowner is ready to sell and move on.  There are other options to try if the homeowner wants to stay in the home.”

Get prescreened for a short sale now!

Ways to Keep Their Home
There are two ways to keep a home in financial distress: a refinance under a program such as HARP or a lender workout such as a forbearance or a loan modification.

Find out the requirements for a HARP refinance here:

HARP Eligibility

Under a lender workout or a loan modification, the homeowner speaks directly to the bank to address the payments.  Every bank has different requirements and you should have your account number handy when you contact the lender.  A forbearance allows a homeowner to temporarily postpone their mortgage payments.  A loan modification can be temporary or permanent.

Click here for video on ways to keep your home: Your Home – Save it or Sell it?


Distress comes in many forms
There are nearly 3,000 pre-foreclosures just in the city of Elgin.   The surrounding areas of the Fox Valley are just as inundated, with pre-foreclosure notices being mailed out on a daily basis.  Recipients of these notices may not even know what happens next in the foreclosure process.  From pre-foreclosure, to a bankruptcy, or a job loss, and pending auction dates, the team will work with the homeowner find a solution.

Click here for a Foreclosure Timeline:  Foreclosure Timeline – Illinois

When a regular sale won’t work
Many times, homeowners know they need to sell their house, but they are underwater, meaning they owe more than what the home is worth. They feel that they need to complete repairs before trying to sell.  Or, they may drain their savings accounts trying to make enormous mortgage payments.

“We are working with clients who are sometimes extremely behind on their mortgage payments.  These clients often are going through bankruptcy, divorce, mountains of medical bills or a job loss, while facing foreclosure and auction notices,” Kinzle said.  She notes it can be a very difficult, stressful experience, and everyone’s situation is unique.

Discretion is very important for many families, who often don’t share the knowledge of their financial distress with friends or neighbors.  Embarrassment and anxiety are the most common reasons clients seek out a distressed property expert.  Clients also fear ruining their credit with a foreclosure.  A short sale will damage a credit score, but not as severely as a foreclosure.  A short sale can work in many instances, even giving the owners a cash back at closing with Relocation Assistance.

See my last post how to sell a home without a yard sign here:  4 Offers, 3 Days, 1 HR Open House, 0 Signs

$10,000 Relocation Assistance* 
Underwater home owners may be qualified to receive $10,000 after closing the short sale on their house, especially when they thought they wouldn’t see a dime.  Restrictions apply and there is never a guarantee a seller will receive any cash at closing for relocation assistance*.(*Restrictions apply)

Again, an experienced short sale negotiator, like those with the Fox Valley Short Sale team, who understand the process, who can talk with the lenders, can tip the scale in the homeowner’s favor and attain a smooth closing.  The $10,000 cash can be used for boosting a new start on the road to financial success.

The government program is called HAFA-(Homes Affordable Foreclosure Alternative) which allows for home sellers to receive up to $10,000 in relocation funds.   However, many homeowners don’t know if they can qualify for this credit.  We can explain this and much more.



Free Service, Easy Service
Fox Valley Short Sales offer specialized services with no fees, and no strings attached. Local home owners need straightforward, professional advice about alternatives to a foreclosure.

“There is never a fee for our service.  No consultation fee, no listing fee, no attorney fees.  We never charge the home seller anything, ever.  Our home sellers  facing foreclosure are in financial hardship and we understand their difficulties,” she said, “They’ve been through enough.”

Commitment and cutting out the red tape
Unlike a regular sale, the work doesn’t stop with an offer from a buyer.  Short sale closings can range from 3 to 8 months’ time, depending on the bank.  Fox Valley Short Sales has gained experience with over 40+ different lenders and servicers, including Wells Fargo, Citibank, Nationstar, Ocwen, Chase, PNC, US Bank, Citi, HSBC, Charter One, Seterus, Carrington, RoundPoint Mortgage, Citizen, DiTech and many more.

Cutting through the red tape in short sales is part of the team’s full service short sale process.  Knowing beforehand what forms are needed, the proper submission methods, meeting deadlines, requirements of the various loss departments, asset manager specifics, and more,  gives our clients a smoother transaction. Because all transactions are processed in-house, with no third party servicers, the deal moves faster through the system.

As Kinzle notes, “Unlike some agents who only work the spring sales season, we coordinate short sales year round.  And we’ll continue to do so as long as there is a need for it in our communities.”


In addition to short sales, Fox Valley Short Sales offers full broker service for regular and distressed listings, for all buyers and home sellers, rentals, as well as investors in residential properties across the northern Illinois and Chicago region. All team members are trained to coordinate short sales effectively and retain the full skills and expertise of fully licensed Realtors®, including access to the resources of the local Illinois MLS database.

For more information and details on short sales and more, please contact Jennifer Kinzle, 630-854-4360. Email me direct to get on track for 2016.


Contact this Top Rated Agent: Jennifer Kinzle

Head Shot #3cropped

Direct/Text:  (630) 854-4360
Facebook: Fox Valley Homes – Jennifer Kinzle, Broker
Fox Valley Investors Group: Fox Valley Investor Group – on Facebook
Twitter: @jkinzle
Instagram: @jkinzle
MeetUp: Fox Valley Investors MeetUp Group


Charles Rutenberg Realty of Illinois
1733 Park St, #150
Naperville, IL 60563
LIC 481.010.165

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