What is a Short Sale?
When a property owner can no long afford or chooses not to repay the lien in full amount.
The Lender agrees to sell the property for less than the lien amount, therefore releasing the property allowing it to be sold to a new buyer. The seller will be set free of debt from the property; The Debt Forgivness Act has also been extended to January 1, 2014 for information on that visit :www.foreclosuretruth.com/blog/sean/mortgage-forgiveness-debt-relief-act-will-likely-be-extended/
Do I qualify for a Short Sale?
Contrary to popular belief, it’s not difficult to qualify for a short sale.
If you are experiencing difficulty making your Mortgage Payments, Contact us Today! We will be able to guide you through the process to see if you qualify.
What if I have 2 loans on my property?
It is possible to negotiate with two Lenders for Short Sale approval! Lenders do not want a property back through foreclosure and will generally work with us to close a successful Short Sale.
Will I be able to purchase again?
YES, You could be pre-approved for another purchase as soon as 2 years!
Every situation varies, but we have seen buyers purchase a new home 2 years after the Close of Escrow of their Short Sale.
How much does a Short Sale cost?
The closing costs, agent commissions, etc.. will be covered by the lender! Most of the time we successfully close a short sale at NO cost to the seller. The costs that could occur to you are delinquent HOA dues, utilities, and possibly cosmetic repairs.
Are you struggling to make your mortgage payments? A short sale could be the option that’s best for you.
Please contact us today with any additional questions.