Are you behind on your mortgage payments? Can't catch up with the bills no matter what you do? Is the bank sending you letters that say your home loan is in pre-foreclosure? Don't panic. Many people across the country are going through the same situation right now. What is going to save you from being one of the people that will ultimately face foreclosure and a ruined credit score? Knowledge of short sales and a good realtor will save you from the frightening world of pre-foreclosure.
If you simply cannot make your mortgage, find an expert to keep the bank at bay. Believe it or not, an experienced real estate agent will approach your bank and reduce the amount of money you owe on your home. This quick drop in price makes the home enticing to prospective buyers, taking that huge mortgage off your shoulders for good. You will then be free to find a home that is better suited to your budget, perhaps with the assistance of the very same real estate agent.
The realtor's expertise is invaluable when it comes to negotiating the short sales process with your lender. Oftentimes, it is very difficult for a novice to convince a bank or lender that they should take a loss on a mortgage. What they don't tell you is that many, many other people are about to default on other mortgages, making their situation more financially uncomfortable than they are letting you know. Plus, many lenders have hundreds of applications for short sales sitting on their desks that need to be resolved. Time is certainly of the essence when it comes to short sales.
Having a seasoned expert on your side to move the process along is imperative to avoid foreclosure and eviction. Short sales make money immediately available to the lender, instead of forcing them to wait for the long and costly foreclosure process to resolve the situation. The lenders benefit from short sales, but it is always prudent to have someone with experience help the situation along. It might sound like something you can tackle on your own at first, but be advised that it is an intricate process. The laws that govern California short sales are quite complicated, so it is very wise to have an expert on your side.
In essence, short sales benefit everyone involved. The realtor gets to sell a house, the bank gets most of its money back quickly, and you are let off the mortgage hook. With the proper team of experts, it is easy to pull out of the pre-foreclosure downward spiral. You just need a good realtor to help you out of unmanageable debt and into a better situation for yourself, your family and your financial future. When you find yourself unable to make your mortgage payments, seek the help of an experienced short sales real estate agent. A real estate agent that is well-versed in short sales will put an end to your foreclosure fears.
Author Resource:-
Kari Shea, of Shea Real Estate & Investment Group, is an accomplished business professional and community leader in the San Diego, California area. With more than 45 years of collective sales, marketing and consulting experience; the Group are master negotiators in the marketing and selling of real properties. Learn more about their services at: www.shea-realestate.com.
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