We can't follow Cher's advice in Short Sales..."If I could Turn Back Time...." If any of us could do that...we could undo the divorce...stay single...not buy that house....have a recession proof career...live forever and never get sick...Not take out that Home Equity Loan to do the landscaping, update the kitchen....No one can change what was...all we can do is our very best to deal with the situation as it is today.
Sometimes potential short sale sellers Or loan modification candidates have heard...been told that because__________(fill in the blank....they got a Notice of Default....they missed X no. of payments, they have already filed bankruptcy...it's too late for a short sale.
Reality is....the bank doesn't want the house....they aren't realtors...they don't need more red ink...they don't want to wait out the time for foreclosure and further deplete the salable value of the property. We sometimes talk with distressed homeowners who have a very short window of time before the foreclosure bus comes and casts their credit to the darkest corners of the unbalanced ledger....and not one has ever gone into foreclosure. We talk with the bank and let them know we are handling the short sale...tell them we are well trained, CDPE trained realtors.
And the bus is delayed. If you or someone you know may have hoped for better times...listed their home for too long for too much....has had the process server or sheriff knock on the door with a NOD ...there is most certainly still time to explore the alternatives to foreclosure.
We are NOT suggesting you wait as long as possible we are suggesting that you find out as soon as possible from an experienced realtor what your options may be for turning your life right side up again...it can be done...it has been done...it IS being done every day....Don't let panic and depression overcome you..pick up the phone...no matter where you are, you can call us and we will refer you to someone qualified in your area.
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