Your home will likely be the greatest financial investment you'll ever make. With the help of a UHR agent, it can also be your wisest. Give yourself every opportunity to come out on top by working with a professional.
What is a Short Sale?
A short sale is the sale of a property for less than what the owner still owes on the mortgage. A short sale is an alternative to foreclosure when a homeowner needs to sell and sometimes can no longer afford to make their mortgage payments. The lender agrees to accept less than the amount owed to pay off a loan now rather than taking the property back by foreclosure and trying to sell it later. Lenders agree to a short sale because they believe it will net them more money than going forward with a lengthy and costly foreclosure process.
Is A Short Sale Right For Me?
If you owe more than your house is worth and you are experiencing hardship, you may qualify for a short sale. Every situation is unique, but in general, this is the basic criteria for qualifying for a short sale are:
- You need to sell your home.
- You owe more on your mortgage than your home is worth.
- You have a personal financial hardship that will prevent you from making future payments. (Examples of hardship include loss of job, divorce, death of a relative or borrower and medical emergency or illness.)
We can value your home to confirm if a short sale is right for you