A short sale is when you ask your lender to allow you to sell the home for less than what you owe on the mortgage. For example, if you owe $400,000 on your mortgage and your home is only worth $250,000 we will negotiate with them to accept $250,000 to settle the debt. The best part is that you will not owe your lender for the difference and the account will reflect as paid for less than owed on your credit.
In order to qualify for a short sale you must provide evidence of a hardship.The Most common hardships are a job loss or reduction in income, divorce, death of a borrower, and medical or family emergencies.
We will work directly with your lender on your behalf to negotiate and settle your account and there is NO COST to you for our services. We are paid by your lender but not until your short sale is complete.
The process takes on average four to six months to complete and you will remain in your home during that time. It is not required for you to make your payments during the process however, if you are in foreclosure and have received a “Notice of Default” or a “Notice of Sale” it is imperative that you contact us right away to begin the process. The longer you wait the less your chances are of having your short sale approved.
Call us today for a no obligation consultation and we will be happy to discuss your individual situation and let you know if a short sale is the right solution for you and your family.