A Short Sale occurs when a lender is willing to accept less than the amount you owe to your lender. The reasons can be many however typically a Short Sale is utilized when there is a change in your financial ability to pay your monthly payment or you can’t sell your home because there is not enough equity available to pay off the balance owed to all mortgage lien holders, Title, Escrow as well as paying the additional associated closing costs. A Short Sale is a way to get your home sold without having to bring extra money to Closing to pay off your remaining mortgage debt thus freeing you from your mortgage burden.
In order to get the negotiations started between you and the lender, you need to have an experienced professionals assistance through a qualified Realtor. If you want to try it yourself, you’ll find yourself under the muck and mire of banks differing answers to your questions and often lost in the maze of just who you can talk to and who actually has the answers you need.
In Colorado, go to: yourshortsalespecialists.com and you’ll find some information here to help us get you started. All information will be kept strictly confidential.
We’re here for you during this difficult time.