Short Sales

This kind of escrow involves selling the real estate property less than it is actually worth. Usually this is not the decision of the homeowner alone to make, but also the Lender which they bought the property with. In the event that the lender is ready to take any amount of equity in the property, then it is permissable to sell the property. In some cases, the seller of the house will not get any amount from the overall sale. In most cases, the Lender will not accept the owner of the house to have any amount after the sale too.

But why go through a Short Sale? Here are some reasons actually that can make you do this: First, it does not negatively affect the credit history of the Lender. Secondly, it is always a cheaper alternative. Thirdly, it will also be slightly easier for the seller to get another mortgage after the short sale. Lastly, it is possible to get another loan after the sale immediately after that transaction is closed instead of having to wait out four years to pass over for your credit history to improve. Some of the aspects of the transaction that we handle are: