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How a Short Sale Expert Realtor can help you Save Your Credit Rating

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Real Estate Agent with Keller Williams Carlsbad, Vista, Oceanside, DRE#01373090

When it comes to something as important as negotiating a short sale, you should never attempt it on your own. There is just too much at stake. If you are refused and your home goes into foreclosure you could end up with a black mark on your credit reports that will last ten years. If you succeed, you can get new credit within two years and a FHA loan immediately if you have stayed up to date on your current mortgage payments. With that much on the line you need to hire a short sale expert realtor to help you negotiate a short sale arrangement with your lender.

When a bank or lending institution is approached for a short sale on an upside down property they take into account who exactly they are making the arrangements with, a short sale realtor is someone who has experience with negotiating a short sale and moving the property once the arrangements have been made. Since they bring that extra element to the table of being able to sell the property in question the bank is more likely to agree to a short sale arrangement.

Think about the economic climate in the country right now and the state of the real estate market. The banks have just been hit with a record number of foreclosures and they have no desire to accumulate any more property. If a short sale specialist comes to them and says they can move a property that they are not likely to collect any more mortgage payments on the lender will almost always agree, even if it means taking less than the original loan amount to settle the debt.

If you attempted to present a short sale solution in an economy where foreclosure rates and unemployment were low and demand for real estate was high you would not be as likely to succeed as you are in the present situation we are in. That doesn’t mean that it’s an automatic when you approach the bank with a short sale solution. Have a realtor who is familiar with the process handle all the arrangements for you. You’ll be out of debt, the house will be sold, and you’ll be on your way forward in life again, back on your feet financially and ready to take on whatever comes next.

For more questions, contact sheryl@sherylbrown.com.  www.shortsalesbysheryl.com

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