Short Sales have been in the news: If you no longer can afford your mortgage, or are behind on your mortgage, maybe in foreclosure, this blog may clarify how a short sale of your home can help you take care of a problem, and end the nightmare of defaulting on your mortgage.
Some people think when they are “under water”, when their house in worth less than the mortgage, they have no option but let the mortgage company come after you and foreclose if you cannot pay for the mortgage.
A short sale is the sale of a home for less money than what you owe on the mortgage, as approved by the mortgage lender. In order to achieve a short sale of your home make sure you talk to a skilled negotiator, specialized in the field of short sales. A licensed Realtor(c) and Real Estate Broker, I also hold a short sale certificate, please call me if you have any questions at 631 298 4646!
Short sales can help many home owners who are behind in their mortgages who cannot remain in their homes, and can limit the damage to homeowners’ credit scores and facilitate getting back on their feet afterwards.
In some cases, it can be negotiated with the bank to forego a “deficiency” judgement” after a “Short Sale”. this means the bank agrees not to come after your for any amount they receive “short” of that the homeowner owes on their mortgage (s).
The nightmare scenario of not being able to pay your morgtgage requires a homeowner’s commitment to take care of a very large problem; and resume a normal life, in a way start over.
Let us help!
