What is Short Sale?

In a short sale, the bank or mortgage lender agrees to discount a loan balance because of an economic or financial hardship on the part of the borrower. The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender. Neither side is "doing the other a favor;" a short sale is simply the most economical solution to a problem. Banks will incur a smaller financial loss than foreclosure or continued non-payment would entail. Borrowers are able to mitigate damage to their credit history, and partially control the debt. A short sale is typically faster and less expensive than a foreclosure. It does not extinguish the remaining balance unless settlement is clearly indicated on the acceptance of offer. To read more about short sale, please go to Wikipedia.

Homeowners:

If you are behind on your mortgage payments or are worried about foreclosure, seek help immediately. You have options. Don't ignore the problem. Here is the resource from HUD.

Beware of Scams:

Scammers promise to purchase your home cash, and that they will negotiate with your lender on your behalf for free, just sign the papers over to them. Please talk to someone before signing any papers.

We have been very successful in helping homeowners avoiding foreclosure through Short Sales. We have a large pool of buyers and investors who are ready to purchase your home. Please call us for more information and for a free consultation: (616)459-7932