Archive for December 18th, 2012

Short Sales…

A short sale is when the owner of a home must sell and they cannot get for the home enough money to cover the outstanding loan balance. They are “Short” the funds to pay off the loan. In this instance and under the right circumstances, the bank may forgive the balance of the loan. There must be an approved hardship for the Seller for the bank to approve this transaction.

A short sale comes with much paperwork, but if it is done correctly, the process will move forward. We work with a local attorney to make sure that everything is in place to give you the best results possible on your short sale. The best news is that there is no cost to you, the seller, for this service. All attorney fees for this service are paid for by the lender.

So, if you are looking to sell your home and expect to be in a short sale situation, give us a call. We will be happy to talk to you about the choices you have.

Tuesday, December 18th, 2012