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www.BuyMyHomeRon.com |
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What is a Short Sale?
We are experts at handling short sales. For more information, CLICK HERE and learn how to stop your foreclosure by doing a short sale.
IMPORTANT NOTICE: (Required government notice) Plum Properties LLC, Susan Breckel, LLC Basswood Realty Services LLC and/or any affiliated or related parties are not associated with any government agency or program, and our company is not approved by the government or your lender(s). Even if you accept this offer and use our service, your lender may not agree to change your loan or approve a short sale. If you stop paying your mortgage, you could lose your home and damage your credit rating.
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A
short sale is the process by which a
homeowner can sell a house for less money
than he actually owes on the mortgage(s).
This is done by
providing proper documentation to the
mortgage lenders to convince them to reduce
the mortgage balance to allow the sale. The
mortgage lender (or bank) actually takes a
loss on the mortgage because the value of
the home has fallen below the mortgage
balance AND the homeowner is in a poor
financial condition that will not allow him
to continue to pay on time. If the bank
approves the discount on the mortgage, the
home can be sold for a lower price without
the seller having to come up with cash to
cover the shortfall, and the mortgage is
satisfied and the foreclosure process stops.