HOMEOWNER
Now more than ever homeowners can’t keep up with their mortgage payments. Many are already in default on their home loan. If you are facing the unpleasant reality of foreclosure, you need to know that there is a way to deal with this process should and not be worried about additional costs, lawyers, processors and negotiators, will be working with your case at no cost. The moment the short sale closes you will be able to walk freely from the debt and take advantage of the incentives that banks are offering to homeowners (up to $20,000) or more to move out.
NO COST SHORT SALE PROCESSING
Now more than ever homeowners can’t keep up with their mortgage payments. Many are already in default on their home loan. If you are facing the unpleasant reality of foreclosure, you need to know that there is a way to deal with this process should and not be worried about additional costs, lawyers, processors and negotiators, will Like any other normal real estate transaction a short sale has a Realtor and Title Company and/or Attorney to work on, coordinate and close the transaction.
We have years of experience working with property owners who were in similar situations you may be in. They are also used to getting paid at the time of closing which is beneficial to you because they are typically ready and willing to help you up front, knowing that if they successfully complete the process they will at some point be paid for their assistance. Understand that your bank will allow certain closing costs like transfer taxes, Realtor’s commission, and Title Company Fees to be covered from the proceeds so essentially, there are no out-of-pocket expenses to you the property owner.
Shortsale
-Occurs when mortgage lenders allow the borrower to sell the house for less than the amount owed on the mortgage.
-A short sale is far less damaging to your credit score than foreclosure.
-Short sales can be a good deal for bargain house hunters, Buyers can get the opportunity to seek an inspection.
Foreclosure
-Occurs when lenders repossess the house, often against an owner’s will.
-On the other hand, will stay on your credit report for seven years. You’ll also have to wait five years to buy another house.
-Foreclosed home sold at the courthouse is bought without warranty and sight unseen. That means you will not be able to have a foreclosed home inspected for structural problems, mold, infestations, or other issues with the house.