REO Sales

Field Street Properties is quickly becoming one of Illinois’s largest Real Estate Companies handling the preservation, management and disposition of REO/OREO properties. Our Agents and staff are highly trained foreclosure specialists that handle all properties in accordance to client instruction and/or applicable to Investor/Insurer guidelines.
FSP understands the importance of moving Nonperforming loans from our client’s books. We work aggressively to provide strategic marketing campaigns to get properties sold. By utilizing the real estate industry's most up to date innovative tools and techniques, we provide low hold times and high ROI.

Residential Marketplaces
We proudly serve the following zip code list for all single family, condominium and 2-4 unit transactions.

60101, 60103, 60106, 60108, 60126, 60137, 60139, 60143, 60148, 60157, 60172, 60181, 60184, 60185, 60187, 60188, 60190, 60191, 60199, 60502, 60503, 60504, 60514, 60515, 60516, 60517, 60521, 60522, 60523, 60527, 60532, 60540, 60555, 60559, 60561, 60563, 60565, 60599, 60004, 60005, 60007, 60008, 60016, 60018, 60104, 60107, 60130, 60131, 60133, 60153, 60154, 60155, 60160, 60162, 60163, 60164, 60165, 60169, 60171, 60173, 60192, 60193, 60194, 60195, 60301, 60302, 60304, 60305, 60402, 60406, 60409, 60419, 60457, 60458, 60462, 60465, 60467, 60525, 60526, 60546, 60601, 60602, 60603, 60604, 60605, 60606, 60607, 60608, 60609, 60610, 60611, 60612, 60613, 60614, 60615, 60616, 60618, 60619, 60620, 60621, 60622, 60623, 60624, 60629, 60632, 60634. 60636, 60637, 60638, 60639, 60641, 60644, 60647, 60649, 60651, 60652, 60653

Marketing Plan

The FSP marketing plan allows us to find the most qualified buyers and deliver them promptly.  Through direct relationships and on-going marketing campaigns we use the below marketing strategies to attract homebuyers:

• Pre-Marketing

• Full MRED Distribution

• 100+ Internet sites

• Print Ads and Direct Mail

• Direct Investor Marketing

• Constant Management

Short Sales

Do you owe more on your home than what it is worth and need to sell? If you are experiencing financial hardship and can no longer afford your mortgage payment talk to Team Micaletti about your options before just letting it go to foreclosure. Regina and Mia Micaletti are both SFR certified and have handled over a dozen short sales in the last year alone. We guide and educate homeowners on the options they have available to them. In these trying times many homeowners are faced with difficult decisions. It is imperative to your financial future to make sound decisions based on fact and our experience. 

Short Sale definition:
A sale of a house in which the proceeds fall short of what the owner still owes on the mortgage. Many lenders will agree to accept the proceeds of a short sale and forgive the rest of what is owed on the mortgage when the owner cannot make the mortgage payments. By accepting a short sale, the lender can avoid a lengthy and costly foreclosure, and the owner is able to pay off the loan for less than what he owes.

Short Sale Process:

• Work Out Package submitted to lender by Seller

• Offer Submitted

• Counter offer response

• Both parties sign a contract

• 5 day attorney review

• Pre-HUD prepared to submit to lender with contract

• Waiting period

• Negotiator assigned/Appraisal ordered

• Bank may counteroffer

• Final approval given

• Buyer moves forward with financing and purchase property

• THIS PROCESS CAN TAKE UP TO 16 WEEKS