Short sale is a one way to sell your home if you can get your lender to approve of the Short Sale process before your foreclosure goes to auction. In this case the lender has to approve of any and all offers for you to be able to sell using what is called the Short Sale
There are numerous hardships that can turn home ownership from a joy into a burden for you and your family and eventually turn to foreclosure. The loss of a job, a cut in pay, medical invoices, or an unexpected hike in monthly mortgage payments can all make a mortgage unaffordable. However ignoring bills will not make them go away, it will only make matters worse.
If you are in need of help, there are approaches that may help, but you are probably not familiar with them. One of these ways is a called a short sale
In an approved short sale, the lender agrees to accept less than what is owed on the property, and then the homeowner is relieved of the debt. Most lenders want the seller or homeowner not to gain any money on the short sale of his or her property and that generally means losing all money even money that you have in savings. A lender may be willing in turn to do this because it spares lenders lots of hassle and expense involved in executing a foreclosure and eventually having to auction the property. And typically, a short sale does far less damage to the homeowner’s credit than a foreclosure does however I would want you to verify that scenario with your tax advisor or call the credit rating companies.
I welcome you if you would like to explore the possibility of a short sale for your property, possibly avoid foreclosure, and potentially saving your credit rating, please complete the form. A qualified short sale agent will be in touch with helpful information.
Randy Gridley
Silvercreek Realty Group
1099 Wells Street, Suite 200
Meridian, ID 83642
www.RandyGridley.com
Office Direct: 208-859-7060
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