It is interesting how many people we come in contact with who do not know what a short sale is. A short sale is a sale of real estate in which the sale proceeds is less than the balance owed on the property's loan. It often occurs when a borrower cannot pay the mortgage loan on their property, and the lender decides that selling the property at a moderate loss is a better solution than foreclosing on the property.
In order to determine if you are eligible for a short sale, please ask yourself the following questions:
- Has your household income been reduced since the beginning of your mortgage?
- Have there been health problems in your family?
- Have your mortgage payments increased?
- Has your property insurance increased?
- Have your real estate taxes increased?
- Has there been a change in your marital status?
- Has there been a job transfer?
- Is there any other reason you can think of that may have caused you to not be able to afford your mortgage payments, or do you foresee any future reason?
It may not be necessary for you to already be behind on your mortgage payments in order for you to qualify for a short sale. We will be happy to assist you and to answer any questions you may have.
Please email us at firstname.lastname@example.org so that we can schedule a mutually acceptable time to speak with you, or call us at (954) 564-2773 now, to get started.