SHORT SALE
Are you having trouble making your mortgage payment? Their may be options for you. If you have lost your job, are having health problems, or experiencing financial difficulties. There is possibly a way to sell your home and get out from under the debt. Stop foreclosure by selling your home with a short sale.
What is a "Short Sale"?
A short sale is the sale of a home in which the balance owed exceeds the proceeds from the short sale and the lender forgives the rest that is owed on the mortgage, in the case the owner cannot make the mortgage payments and is experiencing financial hardship. When a lender accepts a short sale they can avoid a lengthy and expensive foreclosure and the owner pays off the mortgage for less than what is owed. A short sale is definitely better than a foreclosure. A foreclosure stays on your credit report for 10 years.
If selling your home thru a short sale is an option, short of foreclosure or bankruptcy. You will want to find an experienced broker, who understands your situation, and has your best interests in mind at all times. We have negotiated several short sales, we understand that at times problems occur, and this may be your best solution. We want to help.
FORECLOSURES
If you have a home loan on your home the lender has taken a security interest in the property. If you have not kept up with your mortgage payments, the lender, thru a security interest have the right to proceed with a foreclosure. The lender can auction off your home, and use the proceeds to recover their investments.
If your home has not sold, or the purchase is not enough to cover the lenders loan, a deficiency judgment could be placed against you. A foreclosure and a deficiency judgment will seriously hinder your chance to obtain real estate in the future. A foreclosure is very distressful for the owner, their can be other options, you can pursue to avoid this situation.
You need to decide if foreclosure will actually help your financial problems, to let the home foreclose. If your problems can be remedied within the near future, and they are temporary in nature, such as a job loss, it may not be in your best interest to
foreclose, or if the problems are great enough, foreclosure may be the best way.
No matter what your situation is, there are ways of avoiding foreclosure, and dealing with it when you receive the foreclosure notice. We have been successful in helping clients avoid the foreclosure process, while helping you to regain your financial stability. |
