WHAT IS A SHORT SALE?
Simply put, a short sale is when a lender agrees to accept a discounted payoff on a loan. This occurs when the homeowner owes more on the property than the current value. The homeowner must have some type of financial hardship to be eligible.
Simply put, a short sale is when a lender agrees to accept a discounted payoff on a loan. This occurs when the homeowner owes more on the property than the current value. The homeowner must have some type of financial hardship to be eligible.
WHAT IS THE ADVANTAGE OF A SHORT SALE?
A short sale eliminates a foreclosure. This stratey, while not entirely salvaging your credit, will have a far less serious impact than letting your house go to foreclosure. If a property goes into foreclosure some banks could aggressively seek defieciencey judgements and could possibly garner your wages. With a bit of effort your credit score can be repaired within 2 years of a short sale.
A short sale eliminates a foreclosure. This stratey, while not entirely salvaging your credit, will have a far less serious impact than letting your house go to foreclosure. If a property goes into foreclosure some banks could aggressively seek defieciencey judgements and could possibly garner your wages. With a bit of effort your credit score can be repaired within 2 years of a short sale.
HOW CAN KELLER WILLIAMS AND THE LOSS MITIGATION TEAM HELP ME?
We are specialists in working with short sales in the Hampton Roads market. We work directly with your lender to help eliminate any future judgements, as well as working to get the lowest possible payoff. We aggressively market the home to get it sold and professional guidance throughout the entire process. We offer these services at no cost to you, the homeowner.
We are specialists in working with short sales in the Hampton Roads market. We work directly with your lender to help eliminate any future judgements, as well as working to get the lowest possible payoff. We aggressively market the home to get it sold and professional guidance throughout the entire process. We offer these services at no cost to you, the homeowner.
WHO PAYS REALTOR COMMISSIONS?
The lender pays all the fees including commissions. You pay $0 out of pocket.
The lender pays all the fees including commissions. You pay $0 out of pocket.
HOW MUCH WORK WILL THIS REQUIRE?
Fortunately, you only have to make the right decision, allowing a qualified Proactive Team Realtor® represent you is a step in the right direction. We will need you to provide certain financial documents and forms required by the lender. All subsequent negotiations will be handled by our team.
Fortunately, you only have to make the right decision, allowing a qualified Proactive Team Realtor® represent you is a step in the right direction. We will need you to provide certain financial documents and forms required by the lender. All subsequent negotiations will be handled by our team.
CAN I STAY IN MY HOUSE UNTIL THE SHORT SALE IS COMPLETED?
Yes – You will not need to move until the closing. We can work with your bank to allow you sufficient time to find a new place to live and assist you in that process as well.
Yes – You will not need to move until the closing. We can work with your bank to allow you sufficient time to find a new place to live and assist you in that process as well.
HOW DO I START THE PROCESS?
Call us as soon as possible! We will work hard to make this process as smooth and positive as possible but remember time is of the essence. The sooner we start, the sooner we can get your home sold and resolve this matter.
Call us as soon as possible! We will work hard to make this process as smooth and positive as possible but remember time is of the essence. The sooner we start, the sooner we can get your home sold and resolve this matter.
