Many homeowners have had difficulty making their mortgage payments due to different financial hardships. Some homeowners have no idea there is other relief and many homeowners have no idea there is a Short Sale option. A Short Sale is the sale of real estate where the proceeds are less than the balance of the homeowner’s loan.
Many lenders have specific departments dedicated to help homeowners in financial trouble. Lenders are more than happy to close a short sale. Foreclosures are expensive ($66,000 on average) and lengthy. In addition, foreclosure filings are back logged and are taking longer than the banks ever anticipated. Also, many times debtors deficiency judgments can be negotiated to be wiped by selling via short sale.
Get informed, knowledge is your best asset!!
The Law Office of Beth Mann, P.C. 