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Answers (3)
- Alan Grizzle, "Alan Grizzle"
- Contributions:401
Several questions must be addressed first.
1 Are you behind in payments?
2 How much do you owe?
3 How much is the home worth now?
4 Why do you need to sell?
5 If you are behind what is your hardship?
6 Will your lender consider a short sale????????????????????
7. If so how long will it take them to approve a sale???????????????????
8 Will the lender forgive the ballance of the pay-off or will they expect you to pay it back?
If you do a short sale it will hurt your credit however not as bad as a foreclosure?
- Tonia Mann, "ShortSaleAtlanta"
- Contributions:4
The advantage of a short sale is to avoid foreclosure and have less of an impact on your credit score.
We have affiliated with a team of negotiators which can get our short sales approved much more quickly than the norm. We have been sucessful in staving off foreclosures if when the bank understands the team we have and our sucess rate to close. Usually banks just want the property sold and if that can be done and foreclosure avoided they are usually happy too.
Our team would be delighted to help you, offer advice about your particular situation and show you the package that we use to expediate the processing of the short sale. Our services are free to you so please take advantage -- you have nothing to lose.
We have affiliated with a team of negotiators which can get our short sales approved much more quickly than the norm. We have been sucessful in staving off foreclosures if when the bank understands the team we have and our sucess rate to close. Usually banks just want the property sold and if that can be done and foreclosure avoided they are usually happy too.
Our team would be delighted to help you, offer advice about your particular situation and show you the package that we use to expediate the processing of the short sale. Our services are free to you so please take advantage -- you have nothing to lose.
- wetdawgs
- Contributions:26833
In order to be qualified for a short sale, you must meet a number of conditions (such as hardship). I've never heard of a quick short sale.
The first step is to contact your lender to see if you are qualified.
Disadvantage? A short sale will be on your financial record, drop your FICO score and prohibit you from getting another mortgage for several years Sometimes there are deficiency judgements (i.e. the lender says you still owe them money). Short sales also take a very long time because lender(s) must agree on the sales price, and they do not like losing money so take long times to make these decisions.
The first step is to contact your lender to see if you are qualified.
Disadvantage? A short sale will be on your financial record, drop your FICO score and prohibit you from getting another mortgage for several years Sometimes there are deficiency judgements (i.e. the lender says you still owe them money). Short sales also take a very long time because lender(s) must agree on the sales price, and they do not like losing money so take long times to make these decisions.
I need to sell me house quickly. What are the advantage and disadvtange of a short sale?
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