Elkhart, Indiana, What in the World is a Short Sale?

By
Real Estate Broker/Owner with Friends & Neighbors Real Estate RB14036506

A Short Sale in Elkhart Indiana, and any other town for that matter, is when you cannot sell a home for the amount you owe on it.  You do not necessarily have to be past due in your payments to qualify as a potential short sale.

The unemployment is so high in Elkhart County, Indiana that many homes are not worth what the home owners paid for them several years ago when there were jobs...

How do you know if you qualify?  First you have to talk to the bank, they will want a hardship letter, two years worth of income taxes, two months bank statements and pay stubs.  Usually your REALTOR(r) will handle this for you and negotiate on your behalf once you have an offer of your property.  You do not need to ask your bank whether or not you qualify before you list the home.  Once an offer is received, the whole package is sent to the mortgage lender and the process begins.

If you are thinking of selling, call your local Elkhart County Real Estate Expert and Certified Short Sale Specialist Evelyn Johnston with Prudential One Realty at 574-304-7148.  She will give you an idea about what your home is worth in todays Elkhart Real Estate Market.

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