Eagle Glen Short Sales
As many Eagle Glen residents can attest, the number of foreclosure home sales in our community has had a devastating effect on home values. As a result of this value decline many Eagle Glen home owners find it necessary to sell their homes, but find the value of their home isn't sufficient to pay off the mortgage owed to the lien holder (bank).
The importance of working with a real estate broker with a track record of successfully assisting homeowners with short-pay situations cannot be overstated. The following is an absolute must when initiating negotiations with the bank for loan modification OR short-pay (or short sale) approval:
You must hire a broker who knows how to contact the lender's loss
mitigation department with your authorization and negotiate a favorable outcome
while at the same time guarding against the possibility of the lender pursuing
you afterwards for a deficiency judgement. A deficiency judgement is the
amount that was unpaid after the sale proceeds were completely exhausted.
Do not contact the bank without the representation of an attorney or a real
estate broker. Attorney's will typically charge you for their services
regardless of outcome. Top real estate brokers are able to negotiate their
fees from the lender, while the home owner is relieved of paying any real estate
fees.
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If you have an item of interest in the Eagle Glen neighborhood... email
EagleGlen@myagentgateway.com and I'll add any appropriate content to the
site.
Cameron Novak
Eagle Glen Real Estate Broker
The Homefinding CenterTM
Corona, California
951-212-7479
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