What is a short sale?

A short sale is needed when the homeowner owes more for the home than the home is worth. The lender agrees to let a homeowner facing financial hardship sell a home for less than the mortgage owed. A short sale is an attractive alternative to foreclosure, typically not pursued until after other efforts to keep the owner in the home have been exhausted.

As part of your due diligence I recommend you seek guidance and discuss your particular situation with a tax advisor, attorney(s) and possibly a credit advisor.
This will aid you in determining what is best for you a short sale or foreclosure.

Why is a short sale better than foreclosure?
In most cases typically a short sale is less damaging to the borrower's credit. The former owner can qualify for a mortgage backed by Fannie Mae or Freddie Mac to buy another home in as few as two to three years. This is far sooner than if there had been a foreclosure, which is typically five to seven years. Seek further advise from credit reporting agencies.


If your interested in selling your home as a short sale, or purchasing a short sale property. Short sales occur when the balance due to the mortgage company is more than what the homes current fair market value. To receive a FREE consultation regarding the short sale process, please email me at info@shelistoddart.com or complete the information below.

All information is deemed reliable but not guaranteed!

Contact Information
Phone Number
Email Address
Property Address
Street:
City:
State:   Zip:
Best time to contact you
Are you currently behind on your mortgage payments?
Primary or Investment property Primary
Second Home
Investment
How many mortgages?
Mortgage Company #1
How much owed?
Mortgage Company #2
How much owed?
Loan Modification attempted? Yes
No
Results of Loan Modification?
Hardship?
Please explain hardship
Are you still living in home?
What type of Mortgage do you have? FHA
VA
Conventional
ARM
HOA or Condo dues current?Yes
No
Can you keep current on HOA or Condoe dues?Yes
No
Have you considered or are you considering declaring bankruptcy?
Do you have any kind of Security clearances?
Any repairs needed to home
Additional information