Short Sale Craze- Limited Funding!

24 May

Short sale, short sale, short sale.

I hear this everywhere on the radio now and many homeowners are asking me about it!

As the homeowners begin to realize that their mortgage is worth more than the market value of their home, many concerns and questions arise. Here I will be answering the most frequently asked questions to help you decided whether a short sale is right for you or any one you may know currently struggling on their mortgage payments.

What is a short sale?

A short sale is term described as falling short on the debts owned when the property is sold in anticipation of regaining profits back after repurchasing it at a lower price.

Why is it being talked about so much?

The reason why short sales are being talked about is because banks are currently funding short sale programs that give out incentives for homeowners who are currently behind on their payments.

Bank of America is currently giving out incentives ranging from 3,000-30,000 to relocate once a home has been sold in a short sale. Being qualified for this incentive will provides homeowners with a security and peace of mind.

Who qualifies for a short sale?

You may be eligible for an incentive if:

  • You owe more than your house is worth
  • You are not qualified for a loan modification
  • You can’t keep up with your personal economy

Is there any cost associated to starting a short sale?

No, when working with a professional realtor, there is no cost for listing you home as a short sale. You realtor will take care of all the legal paper work, processing, and negotiating with the bank while you can mean while start getting prepared and planning your next move.

How long does short sale last?

On average a short sale can last 6 months to 1 year. It varies depending on cicustances such as waiting for bank approval, negotiating offers, mutual agreement, etc.

About AmeriHome Realty

AmeriHome Realty has been in business since 2001. It is owned and operated by Miriam De Moya which has been a licensed mortgage broker & real estate agent for 19+ years. Her extensive knowledge & expereience of real estate laws, programs, and incentives has helped us better assist our clients in getting the most out of their case in a short sale.

Funding for these incentive programs are limited!

Enter your information below to recieve a call about scheduling a free listing orientation on how to secure your future by listing your home in a short sale.

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