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If unfortunately, you are facing potential foreclosure, we here at the “A” Team would like you to consider another option, a short sale. A short sale is a home sale that I want you to say the "A" Team negotiates for the homeowner with your mortgage company so that they (the lender) take less than the total amount due on your mortgage. If you weigh the effects that a short sale would have on your credit report, you will see that the ramifications of selling short versus going through foreclosure are much less severe. So if you are facing a foreclosure, we strongly urge you to consider a short sale.
Not many people are familiar with the process of buying a short sale home. The upside to this process is that you can buy a great home for a lot less than you would have just a few years ago. We have worked with several clients to help them buy short sale homes and our experience can help you get a great deal as well.
Here is some information the lender will require in order to consider a short sale:
- Income check or documentation (w-2, Income tax return, pay stubs)
- Hardship Letter
- Bank Statements
- Comparative Market Analysis (CMA)
- Listing agreement and purchase agreement when they are available
Here are some great advantages and benefits you may not know when about a short sale:
- Short sale allows you to stop the foreclosure
- Buyer is getting a great deal
- Seller is paying of the loan on the home
- Short sale does not cost you any money
- Realtors/Agents get paid by the lender to do a short sale
- Seller it is less damaging for your credit rating
- You will not have to go into foreclosure with a short sale
- Having piece of mind knowing you sold your home
- For the seller you will be eligible to purchase another home in 2 years
We at the “A” Team have had the pleasure to help many homeowners who have been threatened with foreclosure sell their home short instead. We and our specialized team of reputable attorneys can help you through every step of the short sale process to ensure that you do not have to face foreclosure and the negative effects on your credit associated with it.
If you would like to schedule a free consultation with the “A” Team to see how we can help you through this difficult time, please contact us today.
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