If All Else Fails, Homeowners Will Sell Their Homes Before a Foreclosure
Loan Modification: Negotiate directly with the Bank-Loss Mitigation Department to pay then back.
Short Sale: A short sale transaction occurs when mortgage lenders allow the borrower to sell the house for less than the amount owed on the mortgage.
Foreclosure: The foreclosure process occurs when lenders repossess the house, often against an owner's will.
What are the benefits of a short sale?
- Eliminate your remaining mortgage debt.
- Avoid the negative impact of foreclosure.
Receive relocation assistance in some cases.
Start repairing your credit sooner than if you went through a foreclosure.
A short sale enables homeowners to stay in the home until the sale is completed and in a short sale the seller pays nothing; the lender or bank pays for the commission bill.
The next step is to schedule a phone call so we can go over your situation and understand better the position you are in. You can schedule a Listing Consultation online, https://calendly.com/walkidiagonzalezrealty/pre-foreclosure-appoint