WHAT IS A SHORT SALE?

A SHORT SALE  is a situation in which the home owner owes more money on their loan than the market value of their property.  For example,  the market value of the  property is $175,000 but the loan balance and your closing costs to sell the property equal $225,000... you need to sell “Short” $50,000. 

In a SHORT SALE the lender has not yet foreclosed on the property which provides a window of opportunity for the owner to sell in order to at least partially satisfy the amount owed to the lender.

A SHORT SALE is considered preferable to a Foreclosure because a SHORT SALE won’t damage the home owner’s credit as much as a foreclosure. 

Many need to eliminate mortgage debt for a variety of reasons (i.e.: excessive medical bills or job loss) and they are using the Short Sale process to sell their properties, but there is a catch…….there always is!  The catch is that your Lender must work with you and agree to sell the property for less than what it is worth.  Can that be done?  YES... but it takes some time and it takes someone who is skilled in the SHORT SALE process to help you.

I am proud to announce that I am now certified as a SHORT SALE  and Foreclosure Resource – the ONLY such certification for Real Estate professionals recognized and endorsed by the National Association of Realtors.  My goal is to make the complicated Short Sale process as hassle free as possible.

 If you or someone you know is in a distressed mortgage situation and need to sell their property, I would appreciate your referral because I can help.  I intend to continue to provide the same professional and ethical service that I have provided for over 33 years to my clients and friends.