What is a Short Sale?

For homeowners who are upside down and are struggling to make their payments, or can no longer make their mortgage payment (because of a job loss, divorce, or an existing loan that's resetting higher), until recent years homeowners only option was, letting the bank foreclose. That's not a good option since a foreclosure stays on your credit record for at least 10 years. But some experts are now advocating a "short sale." If your bank agrees to a short sale, you sell the house for a loss, with the bank's blessing, they agree to assume the loss (although in some cases they could still demand the homeowner make some kind of payment or share the loss).

Facing a Short Sale?

Hiring the right REALTOR to negotiate with your lender(s), preparing and submitting required documentation (complete Short Sale Package), and to find a buyer for your house can be a daunting task.  No need to look any further.  Debra Enos, REALTOR is Certified by the National Association of Realtors as a GRI (Graduate of Realty Institute, SFR (Short Sale and Foreclosure Resource), the only certification recognized by NAR. Debra also holds the highly recognized and respected CDPE (Certified Depressed Property Expert), and is a CHS (Certified HAFA Specialist).

Investor Buyer of Short Sale?

Effective April, 2008 the "Notice of Default Purchase Agreement" went into effect. This form is "for use when an investor buyer offers to purchase an owner-occupied residential dwelling (1-4 units) against which a notice of default has been recorded".  Not using this form (when appropriate) may result in hefty fines for the Real Estate Agent, jail time for the investor, and the right for the seller to purchase the property back at original price. 

Debra Enos, is your Real Estate professional for listing and negotiating your Short Sale. She is Certified by NAR as a SFR (Short Sale and Foreclosure Recourse), and holds CHS (Certified HAFA Specialist), and CDPE (Certified Distressed Property Expert). 

So, if you need to sell your home and are facing a short sale, or seeking other information about Real Estate, Debra Enos is your Real Estate Resource!