Are You a Short Sale Candidate

As previously defined in other articles, a real estate short sale occurs when a lender is willing to discount a mortgage instead of foreclosing on the property. In short, the consequences of a property foreclosure or having to file for bankruptcy can be both emotionally and financially devastating to a property owner.

Conversely, a successful short sale negotiation can free the property owner from the insurmountable outstanding debt attached to the property, all while emotionally freeing the homeowner and salvaging their credit.

So, who is a short sale candidate?

If you can answer yes to any of the following questions then you own or know of a property that is a short sale candidate:

• Are the mortgage payments on the property behind at least one month?
• Are the mortgage payments on the property soon to be delinquent due to an economic hardship of the borrower?
• Does the property have an Adjustable Rate Mortgage (ARM) that is set to adjust to a substantially higher, unaffordable payment in the near future?
• Is more owed on the property than the current market value?
• Is the amount owed on the property at or close to market value and does the owner want to sell the property?
• Does the property need substantial home repairs in order to sell for the amount owed?
• Is the property located in a highly volatile, high depreciation area of the country?
• Did the property owner just lose their job, thus rendering the owner with no viable means of continuing their timely mortgage payments without depleting all of their reserves? Do they not have any reserves?
• Is the property owner on the verge of losing their job and no longer able to pay their bills?
• Is the property owner emotionally stressed and embarrassed by their inability to keep their bills current?
• Is the property owner interested in selling their property, and regaining peace of mind to further a fresh start in their life?

We understand that bad things happen to good people. If you are a short sale candidate it might be comforting to know that in the past, millions of other American families have had similar experiences and have been able to get through it.

If you are a Property Owner that would like to regain your peace of mind by using our proven, step-by-step short sale system to negotiate and complete a short sale package, then we encourage you to begin learning how to negotiate your very own short sale today!