Real Facts About: Short Sales v. Foreclosure
A Short Sale is the least invasive and fastest healing mortgage elimination solution for underwater homeowners and here's why.
Under California, the Federal H.A.F.A.® and other lender programs, anyone completing a short sale, is released from all existing home loans; and may be paid $1,000 to $20,000 in relocation expenses. And due to new mortgage guidelines sellers can be mortgage eligible immediately after the sale.
By comparison, more than half of all foreclosure victims, still end up owing their lien holders, after they're evicted by a judge, from their homes—with just three days notice.
To add insult to injury, even renting an apartment is difficult after a foreclosure, and it takes 2 to 5 years longer to qualify for a mortgage post-foreclosure or deed-in-lieu of foreclosure.
Economists estimate, this additional 2 to 5 year waiting period will cost 15 to 35 percent more to buy a similar property, due to the strength of the current housing recovery.
So what's the catch: why aren't more borrowers, short selling their houses, waiting just 18 months on average and buying a better home while prices and mortgages are still affordable?
One of the main reasons is there's not enough Certified short sale specialists who are qualified to successfully complete a short sale.
Just as Cardiologists who are trained in diagnosing heart problems would not perform open heart surgery; the vast majority of real estate agents, are simply not, short sale certified.
At YourHomeStrategy we are the industry leader, in helping homeowners successfully complete short sales at absolutely no cost.
Whether you are already late on your mortgage and receiving Notices of Default or you would like to short sell your home without missing payments, in either case, we can help.
Simply fill in the form below and you will receive a no obligation consultation and all of our services are always free of charge.
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Short Sales, have been a very large part of the real estate market since the housing crisis began.
To learn more about the evolution and advantages of short sales simply click here.
Every Obstacle, Setback or Challenge in Our Life: Can actually be a 'Blessing in Disguise.'
Learn how the Economics of Short Sales can work in your favor.
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