What is a Short Sale?
For homeowners who are upside down and can no longer make their mortgage payment (because of either a job loss, divorce, or an existing loan that's resetting higher), until recently a 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 RealtorŪ 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 Assiciation of Realtors as an SFR (Short Sale and Foreclosure Resource), the only certification recognized by NAR. Debra also holds the highly recognized CDPE (Certified Depressed Property Expert).
Buying a Short Sale?: Submitting offers and buying a home with a Short Sale should not be compared to a transaction for a home that is not facing a Short Sale. Because a Short Sale has to go through the lending institution(s), it could take 2-4 months, or longer to close. You may be competing with multiple offers, will require additional documentation, and is usually sold "as is". Patience is a must when buying a short sale, but may be worth the time and effort.
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 handling your Short Sale. She is Certified by NAR as a SFR (Short Sale and Foreclosure Recourse), and hold her CDPE (Certified Distressed Property Expert). So, if you need to sell your home and are looking at doing a short sale, thinking of buying a short sale, or seeking other information about Real Estate, Debra Enos is your Real Estate Resource!
Mortgage Assistance Relief Services Disclosure
The following disclosure is made pursuant to the Federal Trade commission's MARS Rule (16 C.F.R. §322 et seq.).
IMPORTANT NOTICE
You may stop doing business with us at anytime. You may accept or reject the offer of mortgage assistance we obtain from your lender (or servicer). If you reject the offer, you do not have to pay us. If you accept the offer, you will have to pay us for our services. (Please note that commission due for the successful short sale of your property is paid for by your lender at close of escrow).
Keller Williams Realty and Debra Enos, Realtor are not associated with the government, and our service is not approved by the government or your lender.
Even if you accept an offer and use our service, your lender may not agree to change your loan.
If you stop paying your mortgage, you could lose your home and damage your credit rating.
