Five FAQs About Short Sales
July 13, 2009 by Kristin LaVanway · Leave a Comment
Short sales are becoming more common these days as more and more lenders and homeowners look for ways to avoid foreclosure. A short sale is a good option in some cases.
When a home is sold as a short sale, the home is sold for less than what is owed and the bank foregives the difference. The process takes a lot longer than a regular sale or the sale of the foreclosure, but in the end the Seller may end up in a better position financially than if the home went into foreclosure. And the Bank may end up with a smaller loss than if they foreclosed on the home. It can often be a Win-Win for everyone.
Check out this video for the answers to these questions:
1. Do Banks Prefer Foreclosures Over Short Sales?
2. Do You Need To Be Behind on Your Payments to Do a Short Sale?
3. Is It Hard To Get A Short Sale Approved?
4. Is There Still Time To Do A Short Sale?
5. Why Should I Consider A Short Sale?
For more information, check out my distressed homeowner resoruces on my website, http://www.HereInPhoenix.com on the Homeoners 911 page or contact me at Kristin@HereInPhoenix.com.
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I am a Realtor in Gilbert, AZ, working with clients throughout the Phoenix Metro area. I am lucky to love what I do and appreciate the difference I can make in people's lives.
In a previous life, I was a rocket scientist - really! - but decided to step away from corporate America to be a Mom to my four boys. Found it hard to do bake sales, so I ran a small independent programming business instead.
Flash forward...I am now a single mom and I face many, many challenges everyday. I am living through the hardships that many are facing in this economy. These experiences have motivated me to help other people in my shoes.
I have teamed up with Dean Ouellette to form the East Valley Team - the best darn team in the Valley. Check out our site at http://www.EastValleyTeam.com. I spend way too much time on YouTube - check ou tmy channel at http://www.youtube.com/klavanway
