Friday, October 26, 2012

Sometimes a "short sale" is the shortest route to a solution!

We all experience hardships.  That is part of life.  Sometimes the hardships are created by our own bad choices.  Sometimes the hardships are caused by things out of our control.

Regardless of cause, meeting the challenge head on is the best course of action.

The genesis of the hardship may be loss of a job, death of a family member, divorce, job transfer, or possibly a medical issue.  These personal challenges may make create financial hardships that make keeping your home impossible.

These situations may require you to make hard choices.  But you persist...the stresses add up.  

You need a solution.

What is the solution?   There are a couple of options to look at regarding your mortgage.

First of all, if the situation is temporary or has a resolution in the near future, call your lender.   It may simply be a case of working out a loan modification with your lender.

Or, it may be a short sale is a consideration.

A short sale is a situation where the probable selling price of a property will be less than the mortgage(s) owed.   Short sales require that any offer accepted by the owner be forwarded to the lender for approval (referred to as third party approval).

Sellers in short sales can not derive any proceeds from the sale.

While short sales take longer than a standard real estate sale a short sale may be the shortest route to a solution.

If a short sale is a consideration, call me at 321-693-3850 or email me.