"Short Sale" an alternative before "Foreclosure"

"Short Sale" an alternative before "Foreclosure"


Do you own a home that is worth less than what you owe to the bank? Are you having serious financial problems to continue to make payments on this home? You may want to ask your bank for approval to begin a Short Sale.
 
Some of the valid reasons for the bank to authorize a short sale are:
Job losses
Death or illness of a family member
Relocating or job change
Divorce or separation
Active military
Unexpected repairs
 
Short Sale is a negotiation that takes place before the foreclosure process starts.
In the Short Sale the Bank authorizes the sale of the property to the owner at a price below the debt. A deal like this allows all parties to gain. The owner sells the debt without further affecting his credit, while the bank recovers most of their money and avoids lengthy and costly administrative and legal proceedings (to recover the property and then put it back on sale). Moreover, the buyer gets a property at a very good price. This is a brief explanation of what is involved in Short Sale*.

More and more people in financial difficulty are considering refinancing or loan modification and short sale.
  

Oscar Nieto
(915) 355-9305
Exit West Realty
El Paso, Texas

* This is a brief explanation of what is involved in Short Sale, by someone who is not a lawyer, but with knowledge gained from studies to license for real estate transactions in the State of Texas, courses (Webinars) and the practice for almost a year with a matter of this nature.


Oscar Nieto Headshot
Author:
Phone: 915-355-9305
Dated: November 22nd 2012
Views: 1,441
About Oscar: ...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Fall Greetings -
When Is It A Good Time To Buy A House Now Or Wait - Are you asking yourself this
Preparing Your Home For Sale - Here are just some of several
MAIN REASONS WHY FOR SALE BY OWNER SHOULD CONSIDER A REALTOR - Okay, I know what your going to,

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Exit Realty El Paso
299 Shadow Mountain
El Paso, TX
915-209-4787
915-585-9599

Other Locations