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Short Sales Explained:
Chances are, you or someone you know is facing the possibility of foreclosure. But you need to understand that you are not alone.
Today, 1 out of every 6 homeowners in America is behind on mortgage payments. These are tough and frustrating times. Now more than ever, it's important to identify your options. Foreclosure can be avoided, your credit can be saved, and your financial future can be salvaged.
Through my experience handling distressed properties, I've found that homeowners today have more questions than answers about their circumstances. I have created this web page to help you understand the possible solutions to foreclosure, as well as provide a detailed explanation of short sales, which may be the best course of action for some homeowners.
Please contact me for a FREE REPORT to explain your options and help you decide on a course of action. The idea of losing a home can be overwhelming, and I feel it is vital for you to have all the facts necessary to make an informed decision.
A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Recent changes in corporate policy and the Obama administration have also improved the chances of getting a short sale approved.
But to be technical, here's a more official definition:
For homeowners to qualify for a short sale, they must fall into any or all of the following circumstances:
This seems simple enough, but it is a complicated process that takes the expertise of experienced professionals. I hold the CDPE® Designation and am ready to identify all possible options and, when possible, assist in the quick execution of a short sale transaction.
If you have questions or feel you may qualify for a short sale, please contact me for a free consultation.
Understanding your options now could mean all the difference in the world.
*Compass Realty Inc. is not associated with any government agency. Even if we find a willing and able buyer for a short sale, your lender may not agree to any change in your loan as proposed in the short sale or other agreements proposed to your lender on your behalf by Compass Realty Inc. Failure to pay your mortgage could result in the loss of your home and/ or damage to your credit rating.