What do you do if you need to sell and you're not sure if you can sell yourself, if you need to sell it as a short sale, or if the property should be listed under a foreclosure? Knowing the Franklin Township real estate market can be a huge step in the right direction when considering selling any home here not just a short sale or foreclosure. But when you face the reality that you may need to sell under these terms, having the right agent can make all the difference in the world.
If you're not sure what stage you're in, call me immediately and we can get the details straightened out, organized and communicate with your lender for the best option. If you are not late on a mortgage payment but feel you may be shortly, call your lender today and let them know. They may have a program or option for you that allows you to skip or miss a payment while catching up on your finances. This may also be the time to consider selling the property yourself and avoid a short sale or foreclosure.
If you are already late on your mortgage payment you will still need to make your lender aware of the situation. By doing this you can take a breath and review your current options. Franklin Township short sales are only allowed by the lender when they approve the short sale procedure. This is only done when you offer up a letter of hardship stating why you truly cannot pay your mortgage. Once this is approved, you can begin the short sale procedure.. The lender will connect with a Franklin Township Realtor and set up a listing to cover what you owe on the home. This may be much lower than market value and you typically will not see any funds at closing. But this is a way to sell the home without having the pressure of making your mortgage payment and you may continue to occupy the home during the sale. Although you may not get much say in the sale, you are free from the stress of making that payment and your credit will not be damaged as much overall.
If you are more than 3 months behind on your mortgage payment, typically the next step is foreclosure. You have most likely already received several phone calls and letters stating the inevitable if you have not caught up on your payments. If this is the case and you have not contacted your lender, allow me to help with all those needs. I will contact the lender for you, help determine the next step and help make the process less stressful overall.
Once you Franklin Township foreclosure is on the market you may move out, stay in the home or find a new home. We ask that you leave the home as-is and not take any more items than necessary other than your personal property. For a quick sale for all, this is the best practice. Foreclosures are not fun for anyone involved. They can be heart-breaking and surreal.
I want to make any process you go through as easy as I can. Let me help in your process. If you are considering selling your Franklin Township home either by owner, short sale or foreclosure, let discuss all the options for you and handle all the details. It will be better overall when the dust settles. As your Franklin Township New Jersey Foreclosure specialist I can help weed through the confusion and find a program and option that works for you. Give me a call today. I look forward to speaking with you. 732-356-8927 0 Steve147@comcast.net
Originally posted at: http://somersetcountyre.com/2011/09/franklin-township-nj-short-sales-foreclosures/
Comments(1)