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. It often occurs when a borrower cannot pay the mortgage loan on their property, but the lender decides that selling the property at a moderate loss is better than pressing the current debtor. Both parties consent to the short sale process, because it allows them to avoid foreclosure, which involves hefty fees for the bank and poorer credit report outcomes for the borrower. In 2008, Fannie Mae found that for every one short sale that closed, eight homes went into foreclosure. This speaks to the difficult nature of the Short Sale process and the backward nature of how lenders handle them. TRUST A PROFESSIONAL LIKE ME TO GET THE JOB DONE! Call me today to go over your short sale options at 970-219-8595! My goal is to provide a long term solution to the situation! - House Vacant?
- Moving?
- Facing Foreclosure?
- Bankruptcy?
- Need Repairs?
- Estate Sale?
- Payments Behind?
- Bad Credit?
- Divorce?
- Owe Too Much?
I also highly recommend tax and legal counsel! As a real estate agent, I can only determine if sellers are candidates for a short sale. Don't wait, call today 970-219-8595! Here are some links to some other short sale related resources: http://www.coloradoforeclosurehotline.org/ |