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.