Should I Short Sale My Home?

Is a short sale right for you?

It is well known that many financial institutions sold mortgages in a deceptive manner-

approving people for loans they couldn't really afford.

Over 2.9 million homes have foreclosed in the last three years

and the number is growing…

Foreclosure isn’t the only option

Sometimes short selling simply makes smart economic sense

Especially for homeowners who find themselves "upside down"

That is, they owe more on their mortgage than their house is worth.

What is a Short Sale?

A short sale is when a lender accepts a discount on a mortgage to avoid a possible foreclosure auction or bankruptcy.

For example: A homeowner, who is facing foreclosure, has an existing first mortgage of $500,000.

and market value of the home is $350,000

Long story short, the lender accepts the offer for $350,000 and the home is sold.

That’s a short sale.

According to national experts, after a short sale, a person’s credit will go down by 300 + or - points and prevents them from buying using a government backed mortgage

for up to 24 months.

With a foreclosure,

credit is damaged for up to 4

years preventing

someone from obtaining a

government-backed

mortgage.

Time is not on your side when

you are considering a short sale. You must act quickly and work only with a real estate expert.

Save your home and your credit.

You have questions.

Get the answers!

www.TheCompleteGuideToShortSale.com

For more information visit www.thecompleteguidetoshortsale.com

The Complete Guide To Short Sale