Should I short sale my home?

Should I short sell my house?

What is a short sale?

A short sale is when you sell your house for less than the total payoff of your loans on the house.  Short sales are popular as a way to avoid foreclosure and sell your house.  Your lenders need to approve a short sale before the transaction can take place.

What are the benefits of a short sale?

There are many benefits of a short sale.

For the homeowner,

• you can avoid having a foreclosure on your credit.
• You can avoid having to file bankruptcy.
• You can sell your house and get out from under the financial burden of a mortgage you can’t afford and cannot pay off.

For the bank,

• The bank can avoid having to file foreclosure and go through a lengthy and expensive process.
• The bank can get a house sold instead of having to try to sell the house as a bank owned foreclosure.
• The bank can remove a non-performing asset from their books and make new profitable and performing loans.

How do I get started on a short sale?

To get started with a short sale on your home, contact a local short sale expert.  Due to the down turn in the housing market, many areas are seeing short sale specialists popping up.  These specialists may be Realtors or investors that are trying to take advantage of the market conditions.  You may want to read this article before choosing a short sale expert.

You can also contact us at http://www.donedealsolutions.com.  We are Arizona short sale experts with offices in Colorado, Washington, California, and Oregon.

Related posts:

1. Underwater on your mortgage, do a short sale
2. How to Short Sale My Home
3. Sell My House and Avoid Foreclosure
4. How to Sell Your Home Fast with a Short Sale
5. Short Sale vs Foreclosure, Why a Short Sale is Better