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Understanding Short Sales-

Understanding Short Sales-

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Published by veenstrateam
The Veenstra Team has team members that exclusively handle MI short sales. Veenstra Team does not charge the seller any commission for short sale sales. Call 269-350-5514 for more information
The Veenstra Team has team members that exclusively handle MI short sales. Veenstra Team does not charge the seller any commission for short sale sales. Call 269-350-5514 for more information

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Published by: veenstrateam on Mar 11, 2012
Copyright:Attribution Non-commercial

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08/02/2014

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UnderstandingUnderstandingUnderstandingUnderstandingShort SalesShort SalesShort SalesShort Sales
Is it a good option for me/us?Is it a good option for me/us?Is it a good option for me/us?Is it a good option for me/us?
 
What is a Short Sale?What is a Short Sale?What is a Short Sale?What is a Short Sale?
A short sale is the process by which a homeowner can sella house for less money than he actually owes on the mort-gage(s). This is best accomplished by using the servicesof a skilled Mortgage Negotiation Specialist AND a REAL-TOR who provide the and market expertise that mortgageholders need to consider whether to reduce the mortgagebalance and allow the sale to occur. The mortgage lender(or bank) may actually agree to take a loss on the mort-gage because the market value of the home has fallenbelow the mortgage balance AND the homeowner has ahardship that is not temporary and is therefore in a poorfinancial condition that will not allow him to continue tomake regular mortgage payments. If the bank approvesthe discount on the mortgage, the home can be sold for alower price without the seller having to come up with cashto cover the shortfall. In that case, the mortgage is satis-

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