It is your legal right to find the loopholes available to profit off the lien-holders of the piece of real estate in jeopardy.
Why does a short sale benefit you more than a going to foreclosure or giving the deed to your bank. Don't make the mistake. Call Us to better understand the benefits.
When one starts to default on their monthly payments they can expect for a foreclosure notice to come.
One of the best defense mechanisms to a foreclosure notice is doing a "short sale".
A short sale is where one sells their property for a price less than their current debt balance secured by liens against the property. The bank or lien holders understand that you cannot pay them their money so they may agree to release their liens and accept the lower amount they get from the sale.
Short sales are great because they make things easier for investors in terms of getting below-market value prices, and accessing information about the properties for short sale. It can also save money for the seller and the creditors as well as revent a foreclosure, thereby providing homeowners more control. It also promotes a profitable field for real estate agents and can serve to protect ones credit. In areas like NYC real estate prices have gotten so high that a short sale may be the only hope for many to get back on their feet and avoid ruining their credit and possible their lives.
In conclusion, it may be a good idea to speak to a short sale lawyer in your area if any of this information is pertinent to you.