SHORT SALE

Short Sale, also called "Short Pay" or "Pay Off," is a process by which a lender agrees to receive a lower amount of an owed debt in exchange for the sale of the property to a third party, usually at no cost to the borrower.

A short sale occurs when the homeowner who can no longer afford paying the mortgage payments is allowed to sell the property at the current market value. If an offer made by a buyer is accepted by the lender, the short sale transaction may be completed. The borrower is no longer responsible for the loan and the difference between what the sale price and what the borrower owes is considered by the bank as a loss.

Should I Consider a Short Sale?

Are Your Mortgage Payments Too High?
Do You Want Lenders to Stop Calling?
Do You Owe More Than Your House is Worth?
Do You Want to Dispose of Your Debt?
Want to Minimize Damage to Your Credit?
Suffered Loss of Income?
Your Mortgage Will Adjust Soon and You Cannot Afford Paying Skyrocketing Rate?
Want to Sell Your House But There is Not Enough Equity?
Do you Want to Avoid a Foreclosure and Get a Fresh Start?

Regardless of your circumstances, we can find powerful solutions available.
Default situations are time sensitive, avoiding the situation is simply unwise.

Typically when someone is at the point of not being able to afford their home due to; high rates, dips in property values, divorce, loss of employment, decrease of income, etc., then we are forced to make a life altering decision. 

If your home is foreclosed on you it will ruin your credit for seven years. That means you will have extreme difficulty finding any bank to loan you money. You can forget about being able to buy another house, a car, open a new business, or even qualify for credit cards. On top of that, the loans you do receive will have incredibly high interest rates as you will be considered a credit risk by credit card companies and banks.

With a Short Sale you have the ability to save your credit from reflecting a ‘foreclosure’ as to simply having a ‘settled debt’.

A Short Sale offers a way out of debt and leads to a fresh start.
Listed below are some of the reasons to conduct a Short Sale:
1. Erase a large debt (See example)
2. Get debt free fresh start
3. Minimize damage to credit
4. Take charge over the foreclosure process-
5. Avoid eviction
6. Allow yourself the option to move anywhere you want without having the burden of a bad credit making it difficult to rent or buy.

How Can We Help?
1. Protecting your credit from further degradation.
2. Presenting a solution to the lender and negotiating favorable terms.
3. Helping to minimize your debt obligations.
4. Allowing the borrower and her/his family to get a fresh start.
5. Expediting the process with a fast resolution.

For more information about Short Sales visit "I Short Sale, Inc."