Have you ever heard the term “short sale” and wondered what it means? A short sale is a way to sell your home for less than the amount you owe on your mortgage. This can be a good option if you’re facing financial difficulties and can’t keep up with your mortgage payments. Let’s break it down and see how Premier Fort Properties can help you through this process.
What is a Short Sale?
A short sale happens when you sell your home for less than what you owe on your mortgage. For example, if you owe $200,000 on your mortgage but can only sell your home for $150,000, that’s a short sale. Your mortgage lender has to agree to accept less money than you owe.
Why Would You Choose a Short Sale?
There are several reasons why a short sale might be a good choice:
- Avoid Foreclosure: If you’re struggling to pay your mortgage, a short sale can help you avoid foreclosure. Foreclosure is when the bank takes your home because you can’t pay your mortgage. A foreclosure can stay on your credit report for seven years, making it hard to get a new home loan. A short sale is less damaging to your credit.
- Reduce Your Debt: A short sale can reduce the amount of money you owe. If your lender agrees to the short sale, they may forgive the remaining debt. This means you won’t owe any more money on your mortgage.
- Move On Sooner: A short sale allows you to sell your home and move on with your life more quickly than a foreclosure. It gives you the chance to start fresh.
- Possible Financial Assistance: In some cases, the lender might offer a relocation incentive or cash-for-keys program. This means the lender provides the seller with a small amount of money to help with moving expenses. While this isn’t always guaranteed, it’s a nice bonus that can make the transition smoother.
How Premier Fort Properties Can Help
At Premier Fort Properties, we understand that going through a short sale can be stressful. That’s why we have a team of short sale specialists and attorneys ready to help you every step of the way. Here’s what we do:
- Expert Guidance: Our specialists will guide you through the short sale process. They know the ins and outs of the paperwork and negotiations, making it easier for you.
- Legal Support: Our attorneys will fight to protect your rights and make sure you get the best possible outcome. They will negotiate with your lender to get the short sale approved.
- Handling Auctions and Foreclosures: If you’re facing an upcoming auction or foreclosure, we can step in to help. We work quickly to start the short sale process and stop the foreclosure.
- Stress-Free Experience: We handle the tough stuff so you can focus on your future. Our goal is to make the process as smooth and stress-free as possible.
Benefits of a Short Sale
Here are some key benefits of choosing a short sale with Premier Fort Properties:
- Protect Your Credit: A short sale is less damaging to your credit than a foreclosure.
- Financial Relief: You may be able to walk away from your home without owing any more money.
- Quick Resolution: Our team works fast to help you avoid foreclosure and move on with your life.
- Professional Support: You’ll have experts on your side to handle the details and negotiate the best terms.
- Possible Relocation Assistance: In some cases, you might receive a small amount of money from the lender to help with moving expenses.
If you’re struggling with your mortgage and facing the possibility of foreclosure, consider a short sale. Contact Premier Fort Properties today, and let us help you find the best solution for your situation. We’re here to support you every step of the way.
