More often than not as we meet with potential Short Sale Sellers...it is not the mortgage itself that turns the mortgage upside down....it is the SECOND mortgage, the home equity loan, line of credit...a loan by any other name is still a lien when it uses the primary residence as collateral.
No seller had a crystal ball for the economy, their health, their marriage or in some cases understood the actual number an "adjustable rate" could adjust to.....add these factors into the mortgage mix and you have the hardship that can qualify a seller for a Short Sale.
It is easy to blame the lender, the appraiser, the economy, the government, the lack of regulations or requirements....and all of those individually and collectively may be a part of the problem. Whatever the cause....the situation is that there are more expenses than income and whether you are the home owner, or you know a neighbor, friend or relative who may be in this situation...the very kindest thing you can do is refer them to a short sale specialist. Whether you are in Wisconsin or Alaska...if the property is residential or commercial...call us...toll free: 877-525-0563 or 414-525-0563, 7 days a week and we can find someone in your local market to help you determine your options and get on with the rest of your life.
You will know someone this new year if you do not already...who will be listing their home as a short sale...don't let them risk the sale with someone with no experience...the consequence for that is foreclosure and debts that can follow credit for what can seem like eternity.
Be Pro-Active...Be smart....Call now....it costs nothing to learn your options....and a lifetime of debt to ignore them. We don't just "do" short sales...we close them !
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