Should I Short Sale or allow my home to become another Foreclosure?
Of course the best thing you can do is keep your home! However home owners in America today may not have that option. The biggest benefit of a Short Sale is that your credit may be back to normal within 24 months where a foreclosure will hurt your credit for 7 years and perhaps longer.
The most important factors for selling via Short Sale are:
Seller's commitment to the process and willingness to assist with the success of the process.
Lender's Approval to allow the sale despite not being fully compensated
Having 2nd & 3rd Lenders allow the Short Sale to proceed
Finding a Realtor that knows how to work through the process and able to communicate with other Realtors in a manner that get your home shown.
Prior to selling via Short Sale each and every seller needs to consult a CPA & an Attorney in order to know all legal ramifications of whether their particular situation will work as a benefit by selling as a Short Sale.
Tony Lewis of RE/MAX of Valencia is committed to your success and guiding you through this down turn in our real estate market. Call Tony at 661-510-7975 or email at tonyglewis@yahoo.com and by all means visit his website www.TonyLewis.com to learn more about the process and how your situation fits in!
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