SHORT SALE

What is a Short Sale?  A short sale in real estate occurs when the outstanding obligations (loans) against a property are greater than what the property can be sold for.  Short Sales are a way for homeowners to avoid foreclosure on their homes and still be able to pay off their loan by settling with the lender. The benefits of short selling over foreclosure are obvious. A foreclosure puts a long-lasting black mark on your credit history and the process can be long and costly. Short selling can be much faster and less expensive, and it doesn't leave a black mark on your credit like a foreclosure.

You may be eligible to sell your home in a short sale, if:

• you have a hardship, such as a job loss, divorce or medical emergency
• you owe more than your house is worth
• you’re unable to afford your current monthly mortgage payment
• you’re unable to modify your current home loan

Step 1: Call us and we’ll work with you to explore any options that may be available to help you stay in your home. The sooner you work with us, the more options you may have available.

Step 2: After all other options have been exhausted and you’ve decided a short sale is right for you, we recommend working with a licensed real estate agent who can assist you in listing your home for sale (we can assist in referring a short sale agent in your area)

Step 3: Once you receive an offer, we’ll begin working to gain approval of your  short sale request from all necessary parties. If all parties agree to the terms of the offer (buyer, seller, and any other debt holders), your short sale offer will be approved. Remember, a short sale approval may take longer than getting a traditional mortgage approved. Once your loan has closed, the proceeds are paid according to the terms of the agreement.