Are you facing foreclosure?

 ***You May Have A Better Way Out! ***

There are countless hardships that can turn home ownership from a joy into a burden. 

• The loss of a job
• Medical bills
• Have to sell your home but can't.
• Unexpected hike in monthly payments 

But ignoring the bills will not make them go away, it will only make things worse.

If you need help, there are approaches that can help, but you may not be familiar with them.  One of these is a “Short Sale.”

In an approved short sale, the lender agrees to accept less than is owed for the property, and the homeowner is relieved of the debt.  A lender may be willing to do this because it spares a lot of hassle and expense involved in executing a foreclosure.  And typically, a short sale does far less damage to the homeowner’s credit than a foreclosure does.  Per Fannie Mae guidelines, if you contine to be otherwise "credit worthy", you can purchase a home again in 24 months!

What are the steps of a short sale?

Short sales are not necessarily complicated but do require some work on your part and your agent's part if one is involved.

·         Figure out the true value of your property. Many times a real estate agent can provide a market analysis and give you a good idea of what your home might sell for. You can also use Zillow or other real estate related sites to determine the rough value of your home. If the market is moving down keep in mind that your homes value may be moving down as well and estimated valuations may be valid for only a short time.  Read more......


What documentation do you need for a short sale?

All of the documentation needed to start a short sale is commonly called a "Short Sale Package" and is usually submitted by the agent representing the seller, or the seller of the property. The package usually includes the following items: Items may vary but will include the following: 

• Authorization to Release Information
• Seller’s Hardship Letter. 
• Seller's Financial information
• Etc.....

For a full list, click here.



As a REALTOR, it's not only my job, it's my passion to provide the help you need when you need it.  Call me today!