Bronx homes for sale and the short sale topic. I used to do a few short sales in the past years ago, but now short sales have become very frequent with todays Bronx home sales market. The simplest way to explain a short sale is when you owe more than what your home is worth and you are unable or can not make your mortgage payments. There are many ways that this can happen: if you purchased the home with no down payment and financed your closing costs at the peak of the market and now values are less. Another big problem is if you have an adjustable rate mortgage and you cant refinance because the loan to value is not there. There are many ways to come into this problem which also is accompanied by some sort of change in income or financial struggles. It is a very sensitive issue when considering your options so you should talk to an area professional. When starting your short sale you should list your property with a great Realtor such as myself, the bank does want to see that the property is being marketed properly. The bank when considering any offers will want to see a breakdown of all the expenses and costs involved in the shortsale and everything must be accurate. If the shortsale is accepted by the bank then they usually want to close fast and if all goes well then you should be packed ready to move and hopefully this nightmare is over. I can explain more in detail and privately if anyone wants to they can call me 917 304-3710.
This a home in the Bronx which is applying for a short sale.
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