For Homeowners Who Are Currently Upside down on their Mortgages
A short sale is a relatively new term that has become increasingly popular due to today's economy and Real Estate trends. Basically a short sale occurs when a homeowner owes more than their house is worth based on current fair market value and the mortgage company's willingness to take less than is currently owed in order to forego the more costly foreclosure proceedings.
If you are facing foreclosure or find that you are no longer able to afford your current mortgage payment I may be able to help you get out from under your current mortgage. My team and I have the experience to work with your creditors and negotiate a fair market value price which the mortgage company may be willing to accept as a full payoff amount of your existing debt. I also utlize the services of a professional short sale negotiator to expedite the process, at no cost to you! The ramifications of a short sale are far less detrimental than a foreclosure on your credit report. 98% of my short sale listings get approved by the bank and close! Please contact me in order to go over your options (443-504-8930). For more information on the shore sale process, please contact my short sale facilitator, Sherrie Brandquist.
For Buyers Who are Interested in Purchasing a Short Sale
If you are interested in purchasing a short sale there is a lot you need to be made aware of. A short sale is a much more intricate process than a typical resale. Therefore, patience is required for the majority of these transactions. Most short sales take approximately 3 months to receive a response from the lender(s). On top of that you can be waiting another month for closing and to remove your contingencies (i.e. home inspections, financing, etc.). Purchasing a short sale sale does not necessarily mean that you will be getting a "deal." The majority of short sales sell for fair market value based upon the most recent sales in the neighborhood. For more information on the process of a short sale, please give me a call (443-504-8930) and I will walk you through the proper steps.