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FAQ's - Do I Qualify for a Short Sale |
Do I Qualify for a Short Sale FAQ's?: - Is a real estate short sale right for me?
- A real estate short sale isn’t right for everyone. Just because you want to sell your house doesn’t mean you need to sell your house. If you’re truly experiencing an economic hardship and either currently can’t afford your monthly mortgage payments or know for certain that in the near future you won’t be able to afford your monthly mortgage payments, then a short sale may be right for you. Additionally, the amount owed on the property needs to be close to or more than fair market value for a short sale to be right for you. If you can answer yes to the aforementioned points then a short sale is most likely your best opportunity to ward off foreclosure and/or bankruptcy.
- How do I know a short sale will work for me?
- In short, you don’t. Because the ultimate decision is up to your lender(s), nobody else can guarantee that you will be successful at negotiating a short sale, and we cannot or will not make any such guarantee either. However, your lender is not in the business of foreclosing on properties. They’re in the business of originating and/or servicing profitable loans. They will want to, and in many cases need to liquidate bad loans as quickly as possible and like everybody else, want to mitigate against large losses. Our services are very good at presenting lenders with better alternatives to foreclosure that will save both them and you time and money.
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