Short Sales- A better way to sell your home and avoid Foreclosure!:
The effects from the last market can still be felt today.
Nearly 20% (9 million people) of homeowners across the US are “upside down” on their mortgages. Meaning, they owe more on their mortgage balance than their properties are actually worth.
But Hold On!
There is light at the end of the tunnel…
There can be some big time benefits to doing a Short Sale rather than a foreclosure.
To the homeowner there is little difference because either way they will be a walking away from a depreciating asset
BUT the benefits of a Short Sale are in favor of the homeowner.
Let me explain,
Credit Impact: For starters Short Sales affect a person’s credit significantly less than a foreclosure (most of the time, please contact a professional to examine your case individually). Someone who “Short Sells” a property is more likely to qualify for a new mortgage in as little as 12-24 months, whereas a foreclosure and/or bankruptcy will haunt someone for up to 7 years. Depending on how many late payments (if any) are missed during a short sale, will determine how much your credit drops while a foreclosure will leave a massive mark.
Stress: On top of the credit impact most people never talk about the effect on homeowner’s moral when they are going through a foreclosure. It’s never a good feeling for someone that is just watching the bank take their their house away. With a Short Sale, the homeowner will have more time to make moving preparations and the lender will work with you to come up with a resolution.
Homeowner Help: In a Short Sale the homeowner is 100% involved in the process, making their own decisions with the help and guidance of a Short Sale Professional (contact us today for assistance). The Short Sale specialist will handle all communications with the lender, as well as market and sell the property with the help of an Real Estate Agent. This allows the homeowner a great alternative to foreclosure and is a very dignified way to sell a property!
If you, or someone you know is upside down on a property or facing foreclosure contact a Short Sale Specialist once they have missed at least one mortgage payment or decide you need to sell.
We would gladly help if you need any assistance.
Your friends and local real estate experts,
Oliver, Sam, Sandro
The Home Team
Contact us today:
Oliver Graf – Direct: (760)237-8006
Sandro Natale – Direct: (949)290-2599
Sam Khorramian – Direct: (858)518-1533
Have a question? —>Contact or Email us direct <—
Big Block Realty
Always working hard for you!
CA DRE #01885775
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