Short Sales by Susan Duncan Realtor
Short Sales – by Susan Duncan Broker/Realtor
Are you behind on your mortgage payments? Why? Has there been a hardship in your life such as a divorce?, Illness? Or maybe a loss of job? So many home owners get behind on their payments and get discouraged, overwhelmed. Then hopelessness sets in and it doesn’t have to be that way.
When you find yourself getting behind on your payments, call your lender and tell them. Ask them if you can “modify” your loan. The bank will send you forms or direct you to a website for a list of financial information you will need to provide. They will then look over the information you have given them and the bank will decide if you are a good candidate for a “loan modification” or not. Remember, there must be a hardship and part of the paperwork is that you need to provide the bank a hardship letter.
IF the bank says no to a loan modification, or if you cannot stay in the home because of a job transfer or such, then it would be wise to do a Short Sale. Please, do not just walk away from your home. If you abandon the home the bank will not look favorably on you and your credit will be ruined for a very long time.
A home owner doing a Short Sale shows the bank that they are acting responsibly and that they want to do what is right. Yes, your credit is still hit, but not nearly as severely as with a short sale, and some banks have told me, that depending on the hardship, it may only take as little as 3 years for you to build your credit back up and then you can purchase another home. So please, ask for help. You are not alone.
As for the process, every bank is different, but the BEST thing a home owner can do if they are starting to get behind on their mortgage payments is to talk to a REALTOR who is well versed in Short Sales. Ask your Realtor if he has his CDPE certification. CDPE stands for “Certified Distressed Property Expert”. I have 8 agents on my team with this certification including myself. We know how to handle Short Sales, what the bank is going to need and how to close them. This is not the time for you to get your brother-in-law who sells one house a year to help you out. This is too important. If this is not done properly, you can loose your home. This is the best advise I can give you!
Call me now for your confidential meeting with me, behind closed doors to see if a Short Sale is the right avenue for you to take. This isn’t about me selling another home, it is about helping you save your credit, possibly stay in your home if a modification works for you, it is about giving you hope. Call me today at 828-333-4793, or email me at Susan@SusanDuncan.com.
South Asheville Real Estate Expert – Susan S. Duncan, Exit Broker Owner
Your real estate marketing expert for the Asheville, Hendersonville, Fletcher NC areas. Providing the most comprehensive real estate site for all of the Asheville area is our goal! (828)776-8100. Exit Realty Vistas