“About one in seven American households with mortgages is behind on payments or in foreclosure, according to new data from the Mortgage Bankers Association. That is up from about one in ten a year ago.”
-Nov 2009, Wall Street Journal

You’re Not Alone.
We've all had our ups and downs in life; many good people are also in the same tough spot as you. Life seems scary when you're facing the reality of foreclosure or owe more than your home is worth. We understand this. Many homeowners who purchased or refinanced in the last few years have been seriously abused by unethical lending practices. Looking for a market niche, many of those same lenders are now calling themselves short-sale and loan modification experts which they are not.

What is the next step?

Don't try to negotiate a "short-sale" on your property by yourself or rely on less qualified Realtors. When you are sick, you go to the doctor. When you go to court, you take a lawyer. It's important that you align yourself with a full team of licensed short-sale experts, such as The O’Dell Group. In most cases, you will have only one chance at a successful negotiation with your lender, so don’t risk it!

Contact Us.

The O’Dell Group understands how frustrating short-sale transactions can be for the Buyer and Seller so we have developed a system to minimize confusion and enhance communication between all parties. Creating an understandable and efficient process with realistic expectations is desirable to all. The O’Dell Group has negotiated short-sales throughout the last two real estate cycles; the process we use far exceeds the alternatives available to homeowners. Since 1978, The O’Dell name has been recognized for providing service far exceeding expectations to consistently outperform the competition. Conducting business professionally and ethically to best represent our Client’s interest has always been our top priority. The O’Dell Group takes care of everything for you. Let us help you today!

I’m hoping for a loan modification, but I’m not sure it will happen. What should I expect?

The odds are against a loan mod being in your best interest unless there is debt forgiveness, which rarely happens. Call us for advice on your situation.

Is the government forcing Lenders & Servicers to do Loan Mods?

No, they are providing a financial incentive, but short-sales offer nearly triple the incentives with a permanent solution. Given the high failure rates for loan mods, short-sales will prevail.

What is a short-sale?

A short-sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property's loan.

I heard there isn’t any tax liability in a short-sale. Is that true?

This is not true for all. The Tax Forgiveness Act is only for a limited time for certain loans made during certain years. Call us for advice.

If I have no tax liability then I have nothing to worry about, right?

Not necessarily. Banks are currently selling these deficiencies to attorneys and collection companies and will surprise former homeowner’s years into the future. This is big business and the ugly secret of short-sales.

Does allowing a foreclosure avoid a deficiency?

It might. Everybody’s situation is different depending on whether their loan was purchase money, refinance, first deed or second deed of trust; there is no right answer for everybody.

I did a cash-out refinance & spent the monies, is that an issue?

Yes, it’s a big issue if you can’t prove the monies went into upgrading your home. We have ways to negotiate away the deficiency. Call us.

How difficult is it to get a deficiency release?

It is very difficult for agents and this is why we partner with an attorney to negotiate the deficiency release with the Lender’s legal department.

How will my credit be affected?

A foreclosure is devastating to credit, whereas a short-sale is a temporary set-back.

How long will it take to do a short-sale?

Our unique process minimizes the time from beginning to end, limiting any disruptions to your life, while protecting you from future liability

Who negotiates price with the Lender?

We use a short-sale processing company that is well connected inside the Banks and has been in the Default Services Business for many years. They provide the Loss Package from the seller fitting each lender’s specific criteria and assist us in negotiating the sales price.

Who would be working directly with me?

A licensed agent of The ODell Group will coordinate all necessary Short-Sale responsibilities.

What makes us Experts?

Our Team utilizes the services of Attorneys, CPAs, a Short-Sale Processing Company and seasoned Real Estate Brokers to protect you. Every homeowner’s situation is unique, butall require proper advice in the areas Real Estate Law; TaxDeficiency and Foreclosure Law; One Action Deficiency Rules; liability of recourse versus non-recourse debt on secondary financing; forensic auditing of loan docs as a method of loan modification; also proper marketing, selling and processing of the Short-Sale of your home. These fees are paid from commission should you have to sell your home and the initial consultation is free.