Another Common Myth About Bellevue Short Sales: You Have To Be Behind On Payments Before Your Lender Will Approve A Short Sale

Real Estate Agent with Homes Northwest

Bellevue WA – This is a common myth that is promoted by people that do not understand lenders or the foreclosure process. However, it’s not true.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Many homeowners have short sold their home and never missed a payment. The lenders will approve a short sale where the seller has not missed a payment when the following is in place.

1. The homeowner owes more on their home than it is worth.

2. The homeowner has a verifiable hardship that will force them to miss their payments in the near future.

In these cases, the lenders know it is better to liquidate the home as quickly as possible. A faster sale will reduce their losses on interest and property taxes.

In addition, an owner occupied home usually sells for much more than a vacant home. Sure, the lenders don’t like short sales. Click here to continue reading.


This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Real Estate Market Trends
Washington King County Bellevue
Short Sales Specialists
REO's & Short Sales
Short Sale
avoid foreclosure
bellevue short sale
paul nelson
bellevue short sale specialist
short sale process
approved short sale

Spam prevention
Show All Comments
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Paul - Thank you for the very good information about another common myth about Bellevue short sales, "You have to be behind on payments before your lender will approve a short sale."

May 06, 2013 09:34 AM #1
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?


Paul Nelson

Paul Nelson
Ask me a question