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A Short sale is when a homeowner has a mortgage balance that exceeds the value of the home and can prove a financial hardship, We negotiate with their lender to sell the property for less than the balance owed and the lender forgives the difference.
31 lip 2015 · Short sales are an option for homeowners who are underwater on their mortgage to sell their property, and to avoid going into foreclosure. For many distressed homeowners, short sales are an alternative to foreclosure.
Perhaps you are a homeowner or a broker who is trying to market and sell a property that is currently valued less than the mortgage balance and you want to have a "short sale". What should you do? What should you expect?
Following is a case study of a Countrywide short sale negotiating process. Property: Single family home in Navarre, Florida- an investment property with tenants. Seller Hardship: Rent does not cover mortgage payment, medical, job loss. List Price: $142,000. Seller Mortgage: $188,000. Offer: $135,000
In a short sale, Countrywide Home Loans allows a property to be sold for less than the amount owed on the mortgage and takes a loss. The borrower's credit rating may be hurt in a short sale, but for less time than in a foreclosure.
8 sty 2021 · A short sale occurs when you sell your home for less than you owe on the mortgage, and your lender forgives the outstanding balance instead of pursuing a foreclosure case. A short sale is often...
14 sty 2021 · A short sale transaction can happen when a homeowner’s mortgage loan balance exceeds their home’s market value. In other words, the home’s market value falls short of the balance owed on...
