Is Your Home In Distress?
If your home is in distress, WE CAN HELP!
• Stuck in a high interest rate loan?
• In an ARM that is adjusting, but can’t refinance with the current property value?
• Unable to afford your current mortgage payment?
• Thinking of selling but owe more than your house is worth?
• Overwhelmed with dealing with your lender?
WE CAN HELP!
There is a solution for you so you can move away from the worry and get some financial relief. We can help with:
• Loan Modifications
• Short Sales
• Stopping Foreclosure
• Finding Cash Buyers for Your Home
What is a Short Sale?
A short sale is when a mortgage lender agrees to accept less than the balance owed during the sale of a home. Extenuating circumstances influence whether or not banks will discount a loan balance. These circumstances are usually related to the current real estate market and the borrower’s financial situation.
The short sale process typically is executed to prevent a home foreclosure, but the decision to proceed with a short sale is determined by the most economic way for the bank to recover what is owed on the property. Often a bank will allow a short sale if they believe that it will result in a smaller financial loss with foreclosure.
In order for a short sale to be started, the homeowner must prove a hardship situation to the lender in writing. Other things the lender will require includes: 2 years of tax returns, a detailed financial worksheet, bank statements, pay stubs and a few more items documenting a sellers assets or in many cases – no assets.
While short sales negatively affect a person’s credit report, the impact is typically less than a foreclosure; short sales are considered a type of settlement. Like all credit report entries except for bankruptcy, short sales can remain on a credit report for up to seven years. The positive news is that the opportunity to obtain a new loan in the future occurs within a shorter time period than with a traditional foreclosure.
Experienced REALTORS® can help protect your interests, guide you through each step, check important details, and provide sound advice. We have a full-time staff dedicated to negotiating short sales!
THERE IS NO COST TO YOU when selling your property as a short sale!
While this is a simplified explanation of a short sale, the process is much more complicated. Your next step would be to call so we can evaluate your property and specific situation to ensure this is the right direction for you.
Put our team of experienced Short Sale negotiators to work for you today, call (858) CRR-7600.