New Milford CT real estate talk. Short Sales can and do work.
The sad fact is many home owners are finding it more and more difficult to pay the mortgage. There are many reason’s why, job loss, illness, divorce, ARM’s resetting to a higher interest rate. Whatever the reason, it is a hard, cold and sad fact. Add to this that a sale seems impossible as you now owe more than your house is worth, your house is what we refer to as “under water” or “upside down”. Sometimes the amount seems staggering and it probably feels like there is nothing that can be done.
There is something that can be done. Many times an agreement to sell the house “short” can be reached with your lender(s). Simply put, you sell your house for less than what you owe, an agreement is reached with your lender to allow the sale to happen.
Although it can be put into simple terms, there is nothing simple about a short sale. Negotiating the short sale waters is difficult at best, and for the home owner who is already receiving notices in the mail, harassing phone calls to the house, this feels like an insurmountable task.
It is NOT, I repeat, not insurmountable. The first thing you need to do is give me a call. We will sit together and discuss your options, I will give you a short sale packet and explain the process to you. Should you decide to proceed with the short sale option, I will do my best to get your house sold for you and to get your lender to agree to the short sale.
Short sales can and do work! It is often a better option that a foreclosure. You will have some control over what happens to you, your credit score will not take as big a hit as a foreclosure and often you can own a home again in 2 years.
Short sales in New Milford, CT. They can and do work, give me a call or send me an email for a private consultation. I will also advise you to speak with your attorney. If you do not have an attorney I can provide you with the name of a local real estate attorney who is familiar with the short sale process.
Stay tuned for more New Milford CT real estate talk. C Andrea Swiedler 2011.