People often ask; what a short sale?. A short sale allows a homeowner to avoid foreclosure, minimize financial damage and move on from a burdensome, unaffordable mortgage. In many cases, a short sale may allow the borrower to qualify for a new mortgage in just 24 to 36 months, as opposed to five to seven years or more after a foreclosure.
I am a trained CDPE® Real Estate agent. I am able to negotiate a short sale with your lender if you can show these three qualifications.
First, you must show some type of financial hardship.
Second, you must have a monthly shortfall, meaning your monthly expenses are greater than your monthly income.
Finally, you need to prove that your debts are greater than the value of your assets (certain investments, property, etc.).
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