Are you heading towards foreclosure? Do you have a legitimate hardship that makes you a candidate for a short sale?
Is your mortgage higher than your home's value? Zane can help! Please read on to see how Zane Gerringer of Allen Tate Realtors, partnered with Mortgage Debt Services can make selling your home a little less stressful.
What Is A Sort Sale?
When a homeowner owes a lender more money than the current market value of their home and lacks other liquid assets to satisfy liens, it is often referred to as being “upside down” in a mortgage. This means the home will not sell for enough money to pay off the mortgage and other property-related debt in full. In such cases, a “short sale” may be negotiated with the lender to bridge the gap between the balance due on the mortgage and an offer for the sale of the home. A short sale is an effort to save the bank the time and costly process of foreclosure.
A short sale may provide an opportunity for a seller who needs to sell their home because of financial difficulties or job relocation.
The Allen Tate Short Sale Assistance Program
The Allen Tate Short Sale Assistance Program provides solutions to homeowners with such situations. Through our Short Sale Partner, the program provides the following services to help navigate the short sale process:
- Presents you with the options available for your individual situation.
- Determines if your property is a candidate for a short sale.
- Contacts your lender and cultivates a relationship with the key contact for mediation.
- May be able to stop the foreclosure process and guides you through a short sale of your property.
- Negotiates with the lender once a purchase contract has been written.
- Negotiates with your lender regarding other property-related debt, including back taxes, HOA fees and other liens.