Short Sales: avoid foreclosure

Short sale selling real estateFacing Foreclosure? Upside down on your mortgage? Short sale selling is a smart way out.

Homeowners who are upside down in a mortgage and just need to move on from that particular property—people who face a lender’s foreclosure on their home. Our short sale selling system is for you!

A short sale happens when a borrower sells their property for less then what is owed on the mortgage, does not have the means to pay the difference, and the lender agrees to accept less then the amount owed to settle the debt. In order to be eligible for a short sale the homeowner must be able to demonstrate a financial hardship that is causing the mortgage to be unaffordable.

Selling real estate-short sale homeFor example, if your outstanding mortgage debt is $200,000 and the property is now only worth $160,000, this property is considered to be “underwater.” If you are looking to sell your property for less than you outstanding balance, you will have to supply all of your financial information to your lender so they can determine whether or not they want to sign off and settle the debt for less than the amount owed. This process is simple, and we can help you to make it easy.

Please keep in mind that the servicer of the loan will be in control of the sale at all times. Even if you have a offer on the table ready to go, your application must be completely processed before they will accept the deal. In many cases the buyer will drop out because of how long this process can take. All sellers and REALTORS are required to submit a written purchase agreement, with estimated closing costs (preliminary closing HUD statement) to the mortgage servicer for final approval. Short Sales are done every day, as long as you have a little planning and patience, you can move one with out a scratch.

Submit the form below and a short sale specialist will work with the bank to help you move on.



Short Sale application - Texas real estate only

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