If you are a homeowner facing the possibility of foreclosure, you may first consider a short sale as a worthy alternative. In nearly every case, short sales are better for the homeowner and for the lender, as opposed to foreclosure. This is because there are a number of benefits associated with short sales, compared to foreclosures, which tend to make it the preferred choice of home and business owners alike.
Your bank or lender will need to approve of the short sale. Therefore, a short sale may or may not even be a possibility in your particular case. However, as a general rule, lenders tend to be more accepting of short sales nowadays. Lenders tend to lose less with short sales and, therefore, tend to count their losses and proceed with the short sale.
short sales
Las Vegas short sales tend to look much better on a homeowner’s credit report than a foreclosure. Depending on your payment history, you may be able to buy another home immediately after a short sale. In extreme cases, you may have to wait up to three years to purchase a new home. However, in the case of a foreclosure, you will have to wait up to five to seven years to purchase a new home. If you are looking to apply for a loan in the future, then the fact that you have faced a foreclosure will look bad on your application. On the other hand, loan applications do not even ask if you have filed for a short sale.
In most cases, a short sale is a better choice than foreclosure. However, it is important to speak with a short sale specialist to find out if you qualify for a short sale and to make a more informed decision on whether a short sale or foreclosure is better for your particular situation.
Cashing in on Pre-foreclosures and Short Sales: A Real Estate Investor’s Guide to Making a Fortune Even in a Down Market
Cashing in on Pre-foreclosures and Short Sales shows investors exactly how to take advantage of what many are calling the best upcoming investment real estate market we have experienced in decades! Chip distinguishes the difference between good deals and bad deals, reveals just how easy it is to find, evaluate, and obtain foreclosure properties, tells how to negotiate a profitable transaction, and unveils the power of using short sales and other strategies to create a win-win situation for the investor, the seller, and the bank. Even first-time buyers looking to score a bargain on purchasing their own home will be armed with all the tools they need to confidently evaluate and pursue a profitable deal – and save thousands in the process. Cashing In on Pre-foreclosures and Short Sales incorporates quotes and advice from top industry professionals, as well as a healthy appendix packed with state and national foreclosure guidelines, including valuable contacts and websites, sample forms, c
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The Realtors Guide to Short Sale Success
- ISBN13: 9781448650866
- Condition: New
- Notes: BRAND NEW FROM PUBLISHER! 100% Satisfaction Guarantee. Tracking provided on most orders. Buy with Confidence! Millions of books sold!
Step by step, everything you need to know to get a successful closing on your shortsale property. Included are forms and techniques to get you more money at closing, help you negotiate better with loss mitigators, and inside information that is normally learned through experience. Best of all, the marketing campaign is little or no cost!
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Real Estate Short Sales 2010 Step by Step
- ISBN13: 9781453612811
- Condition: New
- Notes: BRAND NEW FROM PUBLISHER! 100% Satisfaction Guarantee. Tracking provided on most orders. Buy with Confidence! Millions of books sold!
The complete step by step guide to assist home owners who owe more than the property is worth, and the Realtors who represent them, in negotiating through the legal and financial maze of the short sale. The book includes forms, scripts and guidelines to help avoid foreclosure and includes information on HAFA Short Sales, FHA and VA Short Sales, the HAMP Program and Traditional Short Sales. From the back cover: Across the country, Americans are behind in their mortgage payments and foreclosures are at an all time high. Declining home values have left many homeowners unable to sell those homes because they owe more than the home is worth in today’s market. There is hope, however. A process known as the “Short Sale” is allowing some homeowners to get out from under their mortgages without bringing money to settlement. Real Estate Short Sales Step by Step guides homeowners and their realtors through the process of avoiding foreclosure and negotiating a short sale. Whethe
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