I need to sale my house fast. will go into foreclosure on August 8th. Need to sale before.What is short sale?
Posted by | Posted in Buy My Home Fast - Questions & Answers | Posted on 29-03-2010-05-2008
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I was waiting on a loan modification I paid an agency to do.
There was no record that the angency even attempted the modification. Home Assure- Never use them.
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A short sale means you sell your house for less than what is owed on the mortgage.
A short sale means you sell the house for less than the mortgage balance. If the actual market value is currently less than you owe, a GOOD Realtor can help you convince the bank to accept the sale price as FULL settlement of your mortgage. The key words in this situation are “without recourse”. If those words are in your settlement, they can’t come back to collect the difference. You SHOULD use a Realtor. Not only can they sell the house more quickly and for more money than you can n your own; they can DOCUMENT to the bank that the offer is BETTER than what they would get if they foreclosed.