What is a Short Sale?

A short sale is when a homeowner is able to sell their property for less than what is owed on their current mortgage(s).

A property owner must pay off all mortgages on their property before they can sell their home. In today's market, this is often difficult to do because the home is no longer worth what the homeowner paid for it- they are "upside-down". However, a homeowner cannot request a short sale simply because the value of the home has gone down. Lenders only approve short sales when there is a demonstrated hardship on the part of the homeowner. The programs are designed to provide relief to the homeowner who is experiencing the hardship and prevent foreclosure.

Circumstances that constitute hardship include loss of income, divorce, separation, medical problems, etc. Short sales are not always approved. You need a good agent who knows what they are doing to get it done.

Are you Upside Down? Facing Foreclosure?

You need a Certified Distressed Property Expert in your corner. A Certified Distressed Property Expert has the experience, education, and know how to get short sales approved. Often, most homeowners are eligible to purchase another home within two years after completing a short sale (as opposed to 7 YEARS after a foreclosure.)

Am I eligible for a Short Sale?

Only your lender can make the determination whether or not a short sale will be approved. Its not as bad as it sounds! An agent can talk to you about your options. A great agent gets short sales approved.

To find out if you are a good candidate for a short sale, Call Me Today: 703-969-1691.