Unfortunately, short sales are a reality for many home owners who owe more money than their property is worth.
If your loan amount is higher than the actual property value, and you start getting late on your mortgage payments, you need professional help.
Losing your home can be very emotional and most people don´t want to face up the reality until foreclosure sets in.
But don´t run into a foreclosure - there are other options available.
Welcome to the world of Short Sales!
A short sale occurs when the net proceeds from the sale of a home are not enough to cover the sellers´ mortgage obligations and closing costs.
As an expert we will guide you through the entire process. We will help to expedite your transaction and protect your interests. Banks are working with us to save you as a homeowner from foreclosure. It is in all parties best interest to find a workable solution for everybody involved. As knowledgable professionals we can help you sell your home in what looks like an impossible situation!
Even if a short sale may be complex and time consuming - in most cases it is worth the hassle.
Look at the differences between a short sale, foreclosure and bankruptcy:
| Short Sale | Foreclosure | Bankruptcy | |
| Effect on credit score | 80 - 100 points | 200 - 300 points | > 300 points, bankruptcy trigger |
| Time to get credit back | 12 - 18 months after closing | 3 - 10 years from now | 3 - 10 years from now |
Deficiency Judgement | Depends on agent experience. We'd never accept any such clause. | Florida: Yes | Chapter 7: Yes Chapter 13: No |
| Time to start regaining control over your future life | Immediately | Unknown | Immediately |
| Time to finish the whole process | 3 - 12 months | Unknown | 3-5 years |
| Steps to take | Call us asap (941) 866 1666 | Wait, do nothing | Call a bankruptcy attorney |
The time frame to repair your credit (which is be damaged by late payments on your mortgage) after a short sale only is about 12 months, while your credit after a foreclosure will suffer for many years.
Pick up the phone and give us a call @ 941.866.1666 - we will help you to find a solution!
Comments(0)