Although we no longer see the levels of Short Sales that we did a few years ago in Desert Hills, Notices of Default continue to be issued, meaning that yet another Desert Hills property is on the path towards foreclosure at auction on the courthouse steps.
Suzanne and I wonder why the owners would allow the property to go to 
foreclosure, rather than investigate alternatives that may be mutually beneficial to themselves and their lenders.
Not all properties heading for foreclosure are necessarily "under water" - which theoretically means they could be sold via a "traditional" sale rather than a "short sale" - but circumstances may mean there are other liens attached or other factors that inhibit or prevent the owners from selling the property - whether or not it's a short sale.
Short Sales are "regular resales" with one big difference.
Your lender(s) must agree to accept less than the amount(s) owed on your loan(s).
While there are many details regarding Short Sale Seller financial circumstances and the hardship they face, the bottom line is that most lenders prefer to stop foreclosure in favor of processing a Short Sale where the Seller is able to procure a Fair Market Value contract for their home.
After all, why foreclose on a home in Desert Hills when the net result will be less money to the lender(s) than processing and approving a Short Sale in Desert Hills?
We encourage Desert Hills homeowners who are headed for foreclosure to at least carve out 30 minutes of their time to explore what other options may be available to them - and there are several - that may not be as damaging to their credit and their future ability to purchase another home, whether in Desert Hills or elsewhere.
A FREE confidential, no obligation consultation costs you nothing, we can meet with you in person at our office or your home, or connect via GoToMeeting online if you prefer.
We NEVER charge you a fee to list and process your Short Sale.
We provide the same FULL SERVICE listing to you that we provide to our "Traditional" Sale clients.
Contact us today to see if we can help!
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