• Jessica Goldberg * NMLS #1713098

    ~Email: jessica.goldberg@cardinalfinancial.com ~Cell Phone: (612) 718-6763

    ~Office Phone: (702) 945-0281

    Mortgage License
    Minnesota, Wisconsin, Nevada, California, Arizona, and Florida
    Let's make your dreams of home ownership become a reality!
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  • Short Sale, Foreclosure, & Bankrupcty

  • Fun Fact about Minnesota: Minnesota's nickname is "The Land of 10,000 Lakes." but it has at least 11,842 lakes of 10 acres or more. If you count the smaller lakes, the number goes up to as many as 15,000. Minnesota has more recreational boats than any other state: one per every six people. 

  • Short Sale
  • A short sale is the sale of a property for less than what the owner still owes on the mortgage. A short sale is an alternative to foreclosure when a homeowner needs to sell and can no longer afford to make their mortgage payments. The lender agrees to accept less than the amount owed to pay off a loan now rather than taking the property back by foreclosure and trying to sell it later. Lenders agree to a short sale because they believe it will net them more money than going forward with a lengthy and costly foreclosure process. 

  • Foreclosure
  • A foreclosure happens when a borrower is in default on a loan, the lender accelerates the due date of the debt to be present and gives the debtor notice of default, demanding the full loan balance be paid at once. If the debtor fails to do so, the lender files a lawsuit, called a foreclosure action, in a court jurisdiction where the land is located. 

  • Bankrupcty
  • Bankruptcy is a legal term for when a person or business cannot repay their outstanding debts.

    • Chapter 7- allows individuals to dispose of their unsecured debts, such as credit cards and medical bills. Selling off your assists in order to clear away your debt. Consumers who have no valuable assists and only exempt property, such as household goods, clothing, tools for their trades and a personal vehicle up to a certain value, repay no part of their unsecured debt.
    • Chapter 11- reorganize and once again become profitable. Allows a company to create plans for profitability, cut costs and find new ways to increase revenue.
    • Chapter 13- individuals who make too much money to qualify for Chapter 7 bankruptcy may file under Chapter 13. The chapter allows individuals and businesses to create workable debt repayment plans.
  • Borrower's Eligibility after Short Sale, Foreclosure, & Bankruptcy