Short Sale Your Home

A short sale, also known as a pre-foreclosure sale, is when you sell your home for less than the balance remaining on your mortgage. If your mortgage company agrees to a short sale, you can sell your home and pay off all (or a portion of) your mortgage balance with the proceeds.

A short sale is the sale of a home for less than the homeowner owes on the mortgage. A short sale typically occurs when the homeowner has fallen behind on the mortgage payments due to financial hardship.

Typically, your second mortgage lender will accept a substantial discount as long as they are paid from the proceeds of the sale of your home. You can potentially eliminate years of additional debt following you by negotiating it away with your short sale. Why you need to start your short sale soon

If your bank approves the short sale after analyzing this data, you can list your home for sale, and the lender must review each offer you get on your home before you can formally accept the offer and close the sale. A short sale will cause your credit score to drop as little as 50 points if you don’t incur any late mortgage payments during.

Buyers pursue short sales to get a good deal, and they firmly believe buying a short sale will present that opportunity. So when you see a price listed for a home that you think is too low for the neighborhood, before you jump on that price like hot fudge on a sundae, ask your agent to call the listing agent to find out if the home is a short sale.

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A short sale in real estate is when a lender allows a homeowner to sell their home for less than the debt owed on the mortgage. By working with the right listing agent, many homeowners are able to have all their debt forgiven.

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Short sale buyers, with the help of an experienced real estate professional, may increase their chances of success if they: File all the required short sale paperwork in a timely and efficient manner.

A short sale, also known as a pre-foreclosure sale, is when you sell your home for less than the balance remaining on your mortgage. If your mortgage company agrees to a short sale, you can sell your home and pay off all (or a portion of) your mortgage balance with the proceeds.

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