If you’re like many homeowners, there is a chance that you owe more to the bank on your home than your home is worth. A majority of owners who purchased a home from 2005-2006 to 2010 are probably in that predicament. That, in itself, is not a problem, but it can become a problem if you find yourself getting behind in payments or you are faced with having to sell for one reason or another.
We are short sale certified and have a very high success rate when it comes to helping our sellers who may be upside down in their home mortgage. As SFR certified agents, we are trained specifically on how to manage short sale, foreclosure and bank-owned transactions.
A short sale is a sale of real estate in which the proceeds from selling the property will fall short of the balance of debts secured by liens against the property, and the property owner cannot afford to repay the liens' full amounts and where the lien holders agree to release their lien on the real estate and accept less than the amount owed on the debt. A short sale is often used as an alternative to foreclosure because it mitigates additional fees and costs to both the creditor and borrower. Both often result in a negative credit report against the property owner. Real estate industry data indicate that there were 2.2 million short sales in the United States during the period of the subprime mortgage crisis up to mid-2013.
If you owe more than your home is worth and are facing a possible foreclosure, the sooner you speak with us and allow us to create a dialogue with your bank, the better chance you have of negotiating a short sale. There are many qualifying factors in determining whether a short sale is right for you, but in many cases a short sale is a very viable alternative to losing your home to the bank.
As the short sale negotiator in direct contact with your lienholders, Mimi works tirelessly on your behalf to not only bring you, the seller, an offer on your home, but to successfully work with the bank and title company to get that offer accepted by any creditors. Mimi has an over 85% success rate including properties with multiple lienholders and loans.
More Information?For a completely confidential discussion about the possibilities and what to expect, contact Mimi today at (208) 661-9457 or by visiting our short sale website, ShortSaleLowdown.com. Your information is kept in strict confidence and will not be shared with anyone.