Dan Porter
Serving Gilbert, AZ
Short Sale
In today’s market, many property owners face outstanding obligations against their property which are greater than what the property can be sold for. Additionally, income for many homeowners is less now than it was when their home was purchased, and consequentially, many are behind in their payments or facing foreclosure.
Several options are available in this situation:
1. Loan modification. This solution can assist with current payments, but does little to adjust the value of the home. It may be 15-20 years or more before the value of the home once again reaches the purchase price.
2. Foreclosure. This simply entails walking away from the home. Many people have found no other solution, and have suffered long-standing detrimental effects on their credit.
3. Short Sale. A short sale occurs when the lender accepts proceeds from a sale which is less than the amount due for the property. The resulting relief from financial and tax obligations as well as the less detrimental hit to your credit have made this option a logical solution for many homeowners.
If you are considering pursueing a short sale, you will want to have an experienced real estate agent, trained in short sale process, to assist you. The process is very detail-oriented, but can be successfully maneuvered when directed by a knowledgeable agent.
Contact us today to see how we can help you in your Short Sale!
Pursuant to FTC Mortgage Assistance Relief Services: Before using this service, consider the following information. REMAX Solutions is not associated with the government and our service is not approved by the government or your lender. Even if you accept this offer to use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.
In today’s market, many property owners face outstanding obligations against their property which are greater than what the property can be sold for. Additionally, income for many homeowners is less now than it was when their home was purchased, and consequentially, many are behind in their payments or facing foreclosure.
Several options are available in this situation:
1. Loan modification. This solution can assist with current payments, but does little to adjust the value of the home. It may be 15-20 years or more before the value of the home once again reaches the purchase price.
2. Foreclosure. This simply entails walking away from the home. Many people have found no other solution, and have suffered long-standing detrimental effects on their credit.
3. Short Sale. A short sale occurs when the lender accepts proceeds from a sale which is less than the amount due for the property. The resulting relief from financial and tax obligations as well as the less detrimental hit to your credit have made this option a logical solution for many homeowners.
If you are considering pursueing a short sale, you will want to have an experienced real estate agent, trained in short sale process, to assist you. The process is very detail-oriented, but can be successfully maneuvered when directed by a knowledgeable agent.
Contact us today to see how we can help you in your Short Sale!
Pursuant to FTC Mortgage Assistance Relief Services: Before using this service, consider the following information. REMAX Solutions is not associated with the government and our service is not approved by the government or your lender. Even if you accept this offer to use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.
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