Short Sale

A Short Sale can effectively help those homeowners overly burdened when keeping their mortgage payments current. Subsequently, selling their home is the solution or they risk any future ability for favorable credit terms in the future. The loan could possibility be placed in default which could lead to loss of the property. A Short Sale can be negotiated with the lender by the listing agent when it can be proven to the lender’s satisfaction that proceeds from the sale are insufficient to satisfy the liens on the property. The lender should agree to accept less than what they are contractually due to facilitate the sale and not have the property go into default. The Short Sale would also help when it can be proven to the lender that the owner may be close to falling behind in their payments and they want to preclude a future loss by selling now.