If you are struggling to pay a home mortgage you can sadly no longer afford, Sandra may be able to help you through a process called short sale.
This type of home sale can relieve your financial stress and have a much less negative impact on your credit than foreclosure.
SHORT SALE SOLUTION
In a nut shell, when your lender approves a short sale, they agree to accept less than owed for your property, and you are relieved of the debt. They may elect to do this for various reasons, including avoidance of the hassle and expense involved in executing a foreclosure.
To qualify you must show a hardship that would result in the inability to meet your obligation. Some examples of hardships include, but aren’t limited to: death, illness, divorce, loss or reduction in income, relocation, inability to sell or rent property, and business failure.
Taking this route will allow you to remain in your home during negotiations, unlike with foreclosure when you’d be required to vacate the premises.
Some things to consider:
- There are other alternatives you may wish to consider, such as loan modification or bankruptcy.
- You may be responsible for paying income tax on debt forgiven by the sale.
- May take 120+ days to close due to complexity of negotiations.
- Your property may not be suitable for my network of investors.
- Not all lenders will approve; some may prefer foreclosure.
Ready to get started?
If you would like to explore the possibility of a short sale for your property, avoid foreclosure, and potentially save your credit rating, please contact me. I will confidently answer your questions, explain the pros and cons, and be beside you through the entire process.