Short Sales Winchester Virgninia

Recently I have had several clients whom I have meet with in the past year about short sales contact me again ready to try the process. Why? Because their LOAN MODIFICATION DID NOT HELP!!! I am not writing this post to deter anyone from trying a loan modification to keep their home. I am writing this post because I want to again stress that loan modifications only work if you have the income to support the modification. Unfortunately if you loose half of your income (spouse looses job), and your mortgage payment is half of your income, even if your lender cuts your payment in half the chances that you will be able to make up the difference are slim to none. Factor in that almost anyone who has bought a home in the last 4 to 5 years may be upside down on their property value, their just is not any wiggle room when it comes to changes in your income.

What can a short sale do for you? It can give you a chance to create a new lifestyle that you can afford and rebuilld your credit more quickly than if you wait until your home goes to foreclosure. Short Sales do need time to work out! Please do not wait until you are six months behind on your mortgage before contacting a REALTOR to help you sell your home! We need time to get in touch with your lender and work out an offer and that alone can take up to three months! For more information on Short Sales and how they work please visit my site www.equitynegotiations.com.