We recently listed a home as a short sale and the Seller was amazed...of course she believed that her home was worth the Zillion Dollars that her former agent for a list price. That would mean paying the mortgage, the HELOC (Home Equity Line of Credit) and giving her and her soon to be ex-husband a little bit to "start over"....and then the ugly housing market raised it's head..unemployment became reality for her and the reality of a short sale was the only answer.
Knowing what the Short Sale Price would be...not the inflated price that it had been listed at....she decided to tell the former listing agent that she would like to be listed as an exception...NOW she thought....she would just buy her house back !
No No No....Short Sale Sellers...You can't cry "I can't afford" in one breath and buy back in the next...it doesn't work that way. Short sales are sooo much better than foreclosure...you should be able to get your credit back up and hopefully save some money now that you are not over burdened with a mortgage you can't afford...and start over in another house. We are here to help you now...and we will be then when you are ready to become a homeowner once more...financially. Not now....not the house you short saled...there is no Santa Claus for Short Sale Sellers to "re-gift" their own home at a lower price.
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