Short Sale Information
I'm sure that you have heard all about it in the news and your friends, famliy and neighbors have chatted about it. To be honest, most of what you hear may not be accurate. The information doesn't pertain to everyone. Every individual is dealt with on a case by case basis. Every bank is different. It varies on the assets of the owners, etc.
Please click on the link to the left of this page to see what each individual bank requires for documentation for the homeowners. And also what the buyers role in the process is as well. If you don't see your bank listed in the short Sale Package area, please contact me with your banks name and I will email the package that is specific to you.
Before you make a decision to just let your home go back to the bank, call or email me. Let's try to see if there is an alternative to foreclosure.
The good news is that the bank will pay my commission if we can "short sale" your home.
WHAT IS A SHORT SALE? A short sale is when sales proceeds will be less than what you owe the lender(S)
IS A SHORT SALE FOR ME? If you have a hardship that has caused you to not be able to make the payments, you may qualify.
WHAT IS A HARDSHIP? Family illness, loss of job, income loss, divorce, death of a spouse/significant other, adjustment of the mortgage.
IF I SHORT SALE-HOW MUCH DOES IT COST ME? Most of the time, you are not out of pocket a dime!!!Lenders approve these sales to avoid the expense of foreclosing.
Some lenders will allow you to continue making the payments while you are short selling. There are new programs like HAMP and HAFA to assist home owners.
Bankruptcy doesn't always stop a foreclosure and most banks won't allow a short sale if you are in bankruptcy.
Contact me to discuss how I can help you make the right choice for you!!
