Millions of Americans are finding themselves not being able to pay for their mortgage due to unforeseen reasons or they are not able to sell their property for what they owe against their mortgages.
A short sale is not always a pleasant transaction but short sales represent the dominant segment of the distressed property market. They are a way to avoid foreclosure and bankruptcy.
When lenders agree to do a short sale, it means the lender is accepting less than the total amount due on the mortgage. Not all lenders will accept these discounted payoffs and not all sellers or properties qualify for a short sale.
We have successfully handled many short sales for both buyers and sellers in the Park City Real Estate market. We have learned how to negotiate with banks and lenders. Our success rate is very good and response times are fast, however, every lender responds differently.
As short sale specialists we would be happy to help anyone who can not make their payments and negotiate a short sale on their behalf.
Give us a call today and let’s talk about your options. We would be happy to help.
Please also consult with a CPA in regards to taxes due on short pay offs.