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Owe More Than Your Home is Worth?
What is a Short Sale and Do I Qualify?
If the market value of your home is less than what you owe on your current mortgage(s), you may qualify for a legal, lender approved solution known as a Short Sale. A Short Sale can be accomplished by negotiating with your bank or lending institution to accept a sale of your property to a third party buyer for less than what you currently owe on your mortgage balance.
The short sale of Real Estate has become an unfortunate reality for many people and is very prevalent in today’s real estate market. The short sale transaction is a legal and in many cases a more beneficial alternative to foreclosure or bankruptcy. Lenders are motivated to accept short sale offers for a number of good reasons. The short sale of your home can be of benefit for both parties involved. It may help get you out of a financial predicament and may help salvage your credit score by avoiding foreclosure. The lender benefits by avoiding costly Foreclosure proceedings and potentially owning the house and incurring additional expenses to sell it.
Short Sales can be very frustrating, time consuming and complicated transactions. It is important that you seek legal advice and hire a Real Estate professional with an understanding of the short sale process. With an experienced, in-house Short Sale team working in my corner, I achieve excellent results and am very proud of my 100% successful close rate with my short sale listings.
