House Rebate

Short Sale

If the fair market value of the home is less than your loan balance, there is a process called a Short Sale in which you can still sell your home. A short sale is a situation where the lender is willing to accept a smaller payoff of the balance of the loan in order to sell the home at fair market value. Hence, the term "short" in short sale.

We can assist you with the Short Sale and the most advantageous part for you the sellers is that the lender generally pays our commissions, listing fees and the closing costs.

The advantage of selling your home in a Short Sale rather than going through the foreclosure process is that a foreclosure stays on your credit report 4 to 5 years longer that a short sale. You may be able to qualify for a home loan in 2 years if you do a short sale as opposed to 5 to 7 years if your home is foreclosed.

Generally, to qualify for a Short Sale, you need to be experiencing a financial hardship. These include the following situations:

• Divorce
• Marital Separation
• Military Duty
• Medical Bills
• Damage to Property
• Illness
• Loss of Job
• Reduced Income
• Failed Business
• Job Relocation
• Death
• Incarceration

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