What is a Short Sale?

A Short Sale occurs when a lender is willing to accept less than the amount you owe your lender. The reasons can be many however typically a Short Sale is utilized when there is a change in your financial ability to pay your monthly payment or you can’t sell your home because there is not enough equity available to pay off the balance owed to all mortgage lien holders, Title, Escrow as well as paying the additional associated closing costs.

What is a Foreclosure?

A foreclosure occurs when your lender repossesses your home because you have defaulted on your mortgage loan or home equity line of credit. You default by failing to make your interest and principal payments on time. Foreclosed property is often sold at auction allowing the lender to recover some or all of the outstanding debt.

Advantages of a Short Sale:

• You regain control of your situation. Our Short Sale Specialist will handle all the negotiations with your lender, providing you with professional representation you need.
• Your credit scores will be damaged less than with a foreclosure, enabling you to recover more quickly.
• You will be relieved from your burdensome mortgage in a more satisfactory manner.
• A Short Sale is a more honorable alternative.