Bellevue WA – The Stop Foreclosure Institute recently talked to a homeowner whose home had been sold on the courthouse steps.
We asked if she had considered selling the home as a short sale. “I did, but I heard that short sales are difficult and not worth trying. My friend told me that the banks never approve them”, she told us.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
After we got off of the phone, we reviewed what she had lost. She lost the opportunity to protect her credit and to be able to buy a home 3 years after the short sale sold.
Now she will have greater credit damage and will have to wait 5-7 years to buy another home. Ouch! All of this could have been avoided if she had known the truth about short sales.
Yes, short sales are approved by banks. Bank CEOs and the people who invest in mortgages prefer them over a foreclosure. Why? Click here to find out why.