SHORT SALE Q & A - SHORT SALE SPECIALIST - SHORT SALE REALTOR - HENRICO COUNTY, VA CHESTERFIELD, VA RICHMOND, VA

SHORT SALE Q & A - SHORT SALE SPECIALIST - SHORT SALE REALTOR  - HENRICO COUNTY, VA CHESTERFIELD, VA RICHMOND VA

Missed some mortgage payments?  Want to keep your home?  Is the bank about to put you into foreclosure?

WE CAN HELP YOU!

We will advise you of your options and may be able to help you stop the foreclosure and may even save your credit.

Default situations are time sensitive, trying to avoid dealing with the situation is simply unwise.

Let us try to provide you with the quality of life both you and your family should have.

For a FREE CONSULTATION call (804) 545-6412

FAQ's

What is a mortgage default?
A mortgage is considered to be in default when one or more monthly payments have been missed.

What solutions are available if I am in default on my mortgage payments?
You may qualify for a broad range of help. Some solutions are:

• Short Sale/Payoff
• Forbearance Agreement
• Loan Modification
• Deed in Lieu

What is a Short Sale/Payoff?
Short Sales occur when borrowers sell their properties for amounts that are less than the amounts owed to the lender.

How do I qualify for assistance?
Borrowers need to prove that they are experiencing a substantial financial hardship.

What is a Hardship?
A hardship is a situation that has a life changing effect for the borrower that results in an in-ability to pay the mortgage debt in either, short or long term. Some examples are:

• Separation or Divorce
• Medical Bills
• Inability to work due to health reasons
• Death of Spouse
• Job Relocation
• Reduced Income or Unemployment
• Business Failure

How do I qualify for a Short Sale?
A borrower must prove that a hardship exists. The lender must be willing to accept the short sale proceeds as full settlement of the debt.

What is required from the property owner?
The property owner must:

• Sign a listing agreement with the Realtor
• List the property for sale
• Cooperate with access, showings, offers, and with the Realtor and SSW.
• Vacate the home following close of title
• Agree not to finance or otherwise encumber the property
• Be responsible to maintain the home in "show" condition
• Be responsible for minor repairs to the home
• Be a responsible homeowner until close of title and vacancy of home.