Did you know you can get lump sum payment from your bank at closing?
Not every short sale will release you from your monetary obligation. We cannot stress enough the importance of an attorney when obtaining a release from your bank.
Why does a short sale benefit you more than a going to foreclosure or giving the deed to your bank. Don’t make the mistake. Call Us to better understand the benefits.
With the changes in the current economy, mortgage rates can fluctuate all too often along with the interest rates. Sometimes, although payors are trying very hard to meet their monthly dues, they still fall short and are left unable to pay their debts. When you go to a default mode, you can expect for a foreclosure notice to come.
Nevertheless, there are negative impacts that foreclosures can bring. A good alternative to counter this is by doing a short sale.
A short sale is a real estate sale transaction that involves selling your property for a price lesser than your current debt balance secured by liens against your property. Because you are unable to pay for your debts, the lien holders may agree to release their liens and accept the lower amount they get from the sale.
Short sales has certain benefits.
It can make things easier for investors in terms of getting below-market value prices, and accessing information about the properties for short sale.
It promotes a profitable field for real estate agents.
It can save money for the seller and the creditors.
It can prevent a foreclosure, thereby providing homeowners more control.
It can protect your credit.
It prevents scams as well as offers peace of mind on the part of the seller.
If you have questions, please feel free to contact us at(347) 766-8212 or through our online form.