For some families, the current economic conditions have resulted in a dramatic
reduction of income leading to difficulties in making mortgage payments. To
compound it, home values have tumbled resulting in a lot of homes being underwater
and lenders sending out notices of default and foreclosure to homeowners.
reduction of income leading to difficulties in making mortgage payments. To
compound it, home values have tumbled resulting in a lot of homes being underwater
and lenders sending out notices of default and foreclosure to homeowners.
If you are one of the millions of homeowners in this predicament, you may be wondering what
your options are. Should you let your lender foreclose your home or should you do a “short
sale”? And what exactly is a short sale and how can that be advantageous for you as a
homeowner?
your options are. Should you let your lender foreclose your home or should you do a “short
sale”? And what exactly is a short sale and how can that be advantageous for you as a
homeowner?
At Corinthian Realty, we will walk you through the process of a short
sale and we will explain to you every step of the process to ensure
that you gain the understanding to help you to decide on the course
of action that you feel is right for you.
sale and we will explain to you every step of the process to ensure
that you gain the understanding to help you to decide on the course
of action that you feel is right for you.
Unlike a standard and normal home sale, a short sale is a somewhat lengthier
and more complex transaction that involves negotiating with your lender and
prospective buyers to ensure that the financial impact on you is kept to a
minimum. Most lenders will require you to submit documents that they require to
review and act on your request for the short sale and whether to approve or
reject it.
and more complex transaction that involves negotiating with your lender and
prospective buyers to ensure that the financial impact on you is kept to a
minimum. Most lenders will require you to submit documents that they require to
review and act on your request for the short sale and whether to approve or
reject it.
At Corinthian Realty, our extensive experience in short sales has helped
numerous homeowners in the successful conclusion of the short sale of
their properties. Our experience has helped us in the development of
our procedures ensuring that documentations are submitted in a timely
manner and that action items are addressed promptly.
numerous homeowners in the successful conclusion of the short sale of
their properties. Our experience has helped us in the development of
our procedures ensuring that documentations are submitted in a timely
manner and that action items are addressed promptly.
| If you’re having problems paying your monthly mortgage and not sure what to do – call us and let us explain your options. |
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