Think you owe to much to sell? Think again!
Many people today owe more than what their house is worth. While too many of those families lose their homes to foreclosure, others are successfully negotiating "short sales". A "short sale" occurs when a bank allows a home to be sold for less than what is owed. Often, the bank forgives the remainder of the debt. Short sales may be considerably easier on your credit score than foreclosures, too.
Example: Say a home owner purchased their house for $300,000 about 3 years ago, and financed most of it. They now need to sell... whether because of divorce, a forced move or what ever the case... but with the decline in the market that home is now only worth $250,000. If they sell it for $250,000 and pay real estate fees, excise tax, closing costs etc they may only net $225,000... or a full $75k less than what they owe! This bad situation is, unfortunately, happening to good people all over the country... including right here at home. While many people simply stop making payments and walk away from the home, earining a foreclosure on their credit record, others are hiring professionals to do "short sales". A good short sale negotiator can often get the bank to allow you to sell your home and write off the loss... while the home owner takes less of a "hit" to their credit rating and can, in some cases, purchase a home again in a surprisingly reasonable amount of time. There are no guarantees that your mortgage company will allow a short sale, nor can we guarantee when you may be eligible to purchase another home... but most legal, mortgage and real estate professionals we've spoken with agree that a short sale is considerably better on one's credit than a foreclosure is... and much quicker & easier to overcome in the future.
If you would like to receive a free "short sale" packet and want to discuss whether or not it might help your family, fill out the information below and we will get back to you within 24 hours (usually same day!). Your information is safe with us and will not be shared with anyone else.