What is a Short Sale?

A short sale is when the seller owes more than what they can sell the house for.

In certain circumstances the lender maybe willing to negotiate with the home owner.

If you have a buyer who is willing to buy the house for less than what you owe you can often negotiate with the lender to have them accept a lesser amount to avoid foreclosure.

Lenders do not want to own real estate and will often forgive the difference inorder to prevent this.

In some cases the lender may file a deficincey against you for the difference. There are many programs in place right now to try and prevent this from happening.

You may be eligible for a Short Sale even if you are not nearing foreclosure and are current on your payments.

Regardless of your situation you will have to provide certain documentation to the lender justifying why you should be considered for a short sale.

Your Realtor will be able to provide you with a list of what you will have to provide when the time is appropriate. She will also discuss the possibility of a Loan Modification to exhaust all possibilities prior to putting your house on the market.

Time is very important!!

Contact Eileen Hepp

Realtor/Broker Assoicate

Your source for information on

Loan Modification, Short Sales and Foreclosures 

Office 609-978-5000 ext.109

Direct 609-290-8564

or Email me at

c21eileen@exit63homesforsale.com