What’s a short sale?
Put simply, A short sale allows homeowners to sell their property for less than they owe.
Here, we explain how A SHORT SALE WORKS AND WHY YOU MIGHT BENEFIT FROM ONE.
Understanding the Short Sale
In certain qualifying cases where a homeowner owes more on their home than what it is worth today, a lender may allow that homeowner to sell the property for less than the mortgage balance and accept a short sale. A short sale allows the homeowner to sell their home to a buyer, thereby avoiding a lengthy foreclosure process that can be damaging to credit and future ability to purchase real estate.
Qualifying for a Short Sale
To qualify for a short sale as a homeowner, you must meet three simple requirements:
- One, you must have a financial hardship for a verifiable reason why you are unable to pay your mortgage payment,
- Two, you must have insolvency or in the eyes of the bank you must not have the cash or assets to pay off your mortgage balance,
- And three, you must have a monthly shortfall for verifiable financials that show that each month you can’t afford all of your monthly payment obligations, including your mortgage.
Confused? Not sure if you’d qualify? We can help you figure that out.
Our team walks homeowners through the process from start to finish, so that you’re not struggling to gather your documents or communicate with the various participants. We take on the process for you. You’re never alone.
How might you benefit from a short sale? Let’s break it down.
If you’re behind on payments or facing foreclosure, a short sale may be your solution to escaping debt and moving your life forward.
Benefits can include:
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Receiving thousands of dollars in relocation assistance,
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Eliminating debt and protecting your credit,
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Avoiding foreclosure and bankruptcy,
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Selling your home for less than what you owe, at no cost to you.
If you’re thinking of short-selling your home — don’t wait! The sooner you get started, the greater your chances of success.
Struggling with mortgage debt is stressful. It weighs on you around the clock. Take the first step toward sorting things out, and talk to our team today. We offer a free, no-judgment, supportive consultation to help you get started.
Take the first step toward financial Freedom:
Reach Out Now
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Mortgage Debt Help
A Department of Core Real Estate
968 South Oriole Drive, Suite 209
Virginia Beach, Virginia 23451
(703) 621-2114
[email protected]
R.E. License #0226030374