Thousands of homeowners are behind on mortgage payments in Louisville KY. You are not alone. It’s a local and national epidemic.
- The job market is weak.
- Family issues may be causing financial difficulty.
- House values are down, big time.
- You can’t sell for enough to pay off the mortgage, and you can’t afford to pay a Realtor commission, closing cost, maybe some back property taxes, homeowner association fees or other liens that attached to the house.
- When the money isn’t there to make the house payment, it just isn’t there.
So Now What? Is There a Way Out?
Is There an Alternative to Foreclosure?
The Answer is Yes!
Your bank does not want to own your house. They would rather settle, take what they can get and move on.
Banks, lenders, mortgage companies, they have a process called a SHORT SALE.
What is a short sale?
A short sale occurs when a house sells for an amount that falls short of the full amount owed to the bank. Hence the word “short” in short sale. Your lender typically pays all your closing costs Realtor fees so you don't have to.
We can price your house for what it is worth and get a buyer fast. We don't have to price it high for the amount you owe.
What happens to the difference between the amount owed and what the lender gets?
In an ideal short sale the shortfall is forgiven and the seller never has to pay it back. The lender often the forgives tens of thousands of dollars or even hundreds of thousands of dollars. The seller gets a confirmation in writing from the lender that the deficiency is forgiven.
Does the lender always forgive the shortfall?
No, not always. It varies from case to case.
Dave, I’m so stressed and I want my life back! This sounds too good to be true. Does this really happen?
Yes! We successfully close dozens of short sales every year. We routinely get hugs and tears of joy and relief at the closing. The lender doesn’t want to own your house or foreclose on you, and you want to avoid foreclosure. Everyone has the same goal. Please click here for testimonials.
There is Help and There Are Options
Please call me at any time, seven days a week. My personal number is (502) 664-7827.