A Short Sale is an agreement with your lender to accept less money than they are owed as full payment for your loan. This solution often makes sense when you owe more than the property is currently worth. Basically, you have no time or equity to sell your home traditionally because you cannot afford to pay a Realtor, pay the difference between what it is worth today and what you owe and you can not cover your closing costs! In essence, you are "Short" what it will cost you to sell your home and we are asking the bank to approve the shortage.
Are you facing a financial hardship?
Are you getting behind on your mortgage and not sure what to do?
Do you need to sell quickly but your home is worth less now then you bought it?
If you are facing any of the situations above, and you think a Short Sale might be your best option, then call us for more info on your alternatives to Foreclosure.
So, your house is in foreclosure… now what?!?
Try to look at the situation without attaching your emotions. If viewing the situation from a strictly business viewpoint, you can more successfully analyze which option might best suit your needs and desires and move you towards resolving your financial difficulty. One very important thing to remember: Time is of the essence, so sit and take serious thought of your situation and take quick action in order to allow yourself enough time to complete the chosen process.
Rachel is referring in the video to our 1 page Questionaire which is part of the full application but also summarizes for us our prospective clients current situation and allows us to analyze very quickly if we indeed can help them with a short sale. As always, if you have any questions, please contact us for more information