Certified Distressed Property Expert®
What is a Short Sale?
When you can not afford to stay in your home a Short Sale may be the right option for you. Economic and Financial Hardships include: A Short Sale can be completed at no cost to the homeowner. The mortgage company pays the real estate commision, seller concession, closing costs, and some repairs if needed, so the property can be marketed and qualifies for financing.
A short sale is a sale of real estate in which the proceeds from the sale fall short of the balance owed on a loan secured by the property. In a short sale, the bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship on the part of the homeowner.
As a homeowner trying to stop foreclosure, you can not simply decide that you want to unload a home with a Short Sale. The mortgage servicer must agree and the key to getting a Short Sale approval is to demonstrate Economic and Financial Hardship.
Homeowners must be able to sell their home through a real estate professional within three to five months.
The longer you wait the harder it is for us to help!
Understanding your options now could mean all the difference in the world. As CDPEs, we can help!
