Short Sales Explained

A Proactive Step to Rebuilding Your Future

A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions.

Short Sale Explained:

• A homeowner is 'short' when the amount owed on his/her property is higher than current market value.
• A short sale occurs when a negotiation is entered into with the homeowner's mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer closes on the property, and the property is then 'sold short' of the total value of the mortgage.

For homeowners to qualify for a short sale, they must fall into any or all of the following circumstances:

• Financial Hardship – There is a situation causing you to have trouble affording your mortgage. - A loss of job, illness, death in the family, job repositioning and divorce are just a few examples
• Monthly Income Shortfall – In other words: "You have more month than money." A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
• Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.

It may be easy to Explain A Short Sale, but it is a complicated process that takes the expertise of experienced professionals. I hold the CDPE® Designation (Certified Distressed Property Expert) and am ready to identify all possible options and, when possible, assist in the execution of a short sale transaction.

Your Situation Is Not Impossible! Even if you have been told otherwise, foreclosure can be avoided, your credit can be saved, and your financial future can be salvaged

If you have questions or feel you may qualify for a short sale, please contact me for a free consultation.

Understanding your options now could mean all the difference in the world.

There are VERY FEW, if any circumstances where you should pay money upfront or out of pocket to get help. WATCH OUT FOR SCAMS! If it seems too good to be true, it probably is.