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Current market and economic conditions have caused the value of homes in this area to decline, in some cases sharply. Many home owners are in situations where they need to sell because of relocation, Adjustable Rate Mortgages (ARM's), or other life circumstances and they owe more on their home than it's currently worth. This is called a "Short Sale." In a Short Sale, the home is listed for sale at the current market price and we negotiate with the lender to accept to take less than you owe to payoff the mortgage. Lenders often agree to Short Sales because their loses are almost always greater when they are forced to foreclose and re-sell the property. There are many details to consider when doing this, including multiple liens on the property like second mortgages or home equity lines and potential tax consequences for the home owner. Our Short Sale Clients enter into a comprehensive program that includes RealtorŪ representation, an analysis of their situation, planning for future housing, lender negotiations, and closing coordination. The most important thing to know when in this situation is that you are not alone and we have the experience and knowledge to help you. If you are facing foreclosure, you may have options as well. Most lenders are willing to work with their borrowers to find a solution that works for all parties. Lenders do not want to foreclose, they are in the loan business not the foreclosure business. Our Staff is experienced in lender loss mitigation and may be able to assist you. Again, it's important to know you are not alone and we can help. For more information or a free consultation, please fill out the form below or Contact Us now. |
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