We all know about the famous Irish folklore that says there is a “pot of gold at the end of the rainbow” -- appropriate for today as it is pouring down rain while I am writing this post. I’d relate the reward that a short sale buyer can reap by having patience during the short sale process to that “pot of gold at the end of the rainbow”.
Take a short sale listing of mine that recently closed in Aurora, … (2 comments)
short sale agents: Naperville Homeowners ~ Do You Qualify for a Short Sale?
- 03/04/09 04:11 AM
Naperville Homeowners, knowing if you qualify for a short sale is very important. The definition of a short sale is when the lien holder(s) accepts less than the balance that is owned on the property as a full payoff...now here is the key - the lien holder(s) agrees to discount the loan balance due to an economic or financial hardship on the part of the mortgagor. The key words to look at are - due to an economic or financial hardship, in essence you have to prove to your lien holder(s) that you are facing a hardship and therefore need to sell your home for … (0 comments)
short sale agents: Buyers/Buyer's Agents ~ Don't be scared off by Short Sales....
- 02/16/09 06:58 AM
I have Short Sale listing in Chicago that I have been receiving many calls about. Calls from either buyers or buyer's agents unsure of the whole short sale process. Many ask, is it a foreclosure? I explain that a Short Sale is when the lien holder(s) accepts a payoff that is less than what is owed. With the increase of short sales in our market, it is important that both Buyers and Buyer's Agents are educated on the short sale process. Knowing up front what to expect takes away the fear of the unknown.
First and foremost know going in that … (9 comments)
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