Short Sales in Elkhart County Indiana are a part of buying and selling homes, and has been for quite awhile, according to Elkhart Real Estate Expert and Certified Short Sale Specialist Evelyn Johnston with Prudential One Realty.
The reasons behind offering a home for Short Sale is as varied as the people who live in them. Sure some folks who got laid off from their jobs have lost their homes, or are in the process of loosing their homes, some people have to sell due to a job transfer out of the diriving area or out of state and still others want to sell in order to take advantage of the lower interest rates and prices being offered.
The reason behind the Short Sale sometimes affects whether or not a Mortgage Lender will approve the sale. You can read more about that in a series of posts I wrote recently about Short Sales.
The Making Homes Affordable and Stability Plan that came out in April has some newer rules that says the Mortgage Lender has to offer every new Pre-Foreclosure it processes be offered the opportunity to Modify their Loan thru a HUD approved counselor before proceeding. This is slowing down the notices of default the court system is receiving by 30 days, which is how long the Lender must give the Home Owner's to seek the Modification.
LaCasa Goshen is our local Elkhart HUD approved counseling service and may be reached at 574-533-4450. Short Sale information is available thru Evelyn Johnston with Prudential One Realty at 574-304-7148.