short sale in charlotte nc: What is a Short Sale in Real Estate in Charlotte NC?
- 01/17/21 06:58 PM
When a homeowner can no longer pay off their mortgage in Charlotte, NC, the house may be foreclosed. However, a short sale is a better alternative to an eventual foreclosure. In a short sale, a house sells for less than, or short of, the amount left on the mortgage. This frees the homeowner of the financial burden of the house. This money is paid directly to the bank and not the homeowner.
When a homeowner is in true financial distress, a short sale may be the best option for all parties. For the homeowner, once they sell the house, they are … (0 comments)
Are you having problems with making your monthly mortgage payments? You may be considering what to do next. You can either choose a short sale or a foreclosure. However, before you make any decision, it’s important to know the facts.
How do foreclosures and short sales work?
When a homeowner misses three to six months of payment, the lender will record a notice of default. The homeowner will be notified that he is facing a foreclosure and he will be given a reinstatement period to make things right by paying off debts. If the mortgage … (1 comments)
A short sale refers to an agreement between you and your lender that the lender will accept less than the full payoff amount for your mortgage. Because of the complex nature of the transaction, it is strongly recommended that sellers work with short sale agents in Charlotte.
You’ll need the help of an agent with a successful track record in short sales. With their experience and connections, such an agent will be able to identify and help resolve possible problems and protect … (0 comments)
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When a homeowner can no longer pay off their mortgage in Charlotte, NC, the house may be foreclosed. However, a short sale is a better alternative to an eventual foreclosure. In a short sale, a house sells for less than, or short of, the amount left on the mortgage. This frees the homeowner of the financial burden of the house. This money is paid directly to the bank and not the homeowner. 
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