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Falmouth MA Short Sale Information To Consumers
Falmouth MA Short Sales - Pre-foreclosure Purchase
As a home buyer looking for value in the purchase of real estate you may consider a Falmouth MA short sale as a viable option. Buying a short sale is a difficult and often a frustrating process and should not be confused with a foreclosure. To have success, hire experienced professionals that understand all aspects of the transaction. Utilize the services of Realtors, attorneys, accountants, mortgage lenders and home inspectors as they all provide expert advice.
A Falmouth Short Sale Defined
Homeowners that have financial hardships may pursue a short sale prior to foreclosure. The property value is less than the outstanding liens on the property (mortgages and insurance premiums) and the homeowner does not have sufficient resources to pay the difference. Negotiating a short sale may be a preferable option to preserve their credit and limit their debt exposure. If approved by the lender(s) they are willing to accept less than what is owed to them.
Massachusetts law often presents the lender with incentives to offer the homeowner other alternatives. The foreclosure process takes time and money and may prove to be more costly to the lender. Under the Home Affordable Foreclosure Alternative ... more

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