The HOOKED ON PURPLE GROUP at Keller Williams Realty Las Vegas, http://www.hookedonpurple.com/ can short sell your VA backed property.
I’ve discovered there’s a belief among some people that you can’t short sell a home with a VA backed mortgage loan. That simply isn’t true in Las Vegas, North Las Vegas, Henderson and the Southern Nevada area. Short selling a home with a VA guaranteed mortgage is no different than any other short sale. The most important thing you can do if you’re thinking of short selling your home is to finalize the decision and take action.
Many people delay making the decision because they believe their situation will change for the better. Sometimes situations do change for the better. However, if you’re already behind 90 days or more in making your mortgage payments, the likelihood you will be able to get current is not great. It’s a difficult, emotional decision. The problem, in many cases, is our natural inclination to hold onto the idea things will get better, while they don’t get better fast enough to make a difference. Then the decision is made too late.
Short selling a property is a lengthy, time consuming process. The real estate professional working on behalf of the home owner needs time to market, negotiate and close the transaction. The entire process from beginning to end can take several months. If a home owner is in default and takes too long to hire a real estate professional, the property can, and often does, go into foreclosure thus making all short sale efforts irrelevant.
Consequently, time is of the essence in order to allow the short sale professional the time they need to get the job done. If the idea of short selling your home has crossed your mind, the best thing you can do is talk to a real estate professional experienced in short sales. Usually, one conversation with an experienced short sale listing agent will give you the clarity you need to make your decision and take action.
If you’re a homeowner with a VA guaranteed mortgage loan, you can short sell your home and most of the time, obtain your VA Release of Liability upon successful completion of the short sale process. If you don’t take quick enough action and your home is foreclosed, you will not get your Release of Liability from the VA. This alone is a huge benefit of a short sale. Believe it, there are definitely benefits to a short sale and this is where your thoughts should go; toward the benefits. The only way you can find out what benefits are in store for you is to talk to a real estate agent experienced in short sales without delay.
The HOOKED ON PURPLE GROUP at Keller Williams Realty Las Vegas, http://www.hookedonpurple.com/ can help. Contact us today for a free consultation.