Christina Lujan and Jennifer Badillo

Short Sale Options

Avoiding Forclosure, What are your Options?

A short sale occurs when the net proceeds from the sale of a home are not enough to cover the sellers mortgage obligations and closing costs, such as property taxes, transfer taxes, and the real estate practitioners commission. The seller is unwilling or unable to cover the difference.

Some although by no means all short sellers may also be in default on their mortgage loans and be headed for foreclosure. However, home owners who bought at the top of the market or who took out large amounts of equity with a refinance and who now need to sell because of divorce or job transfer may also find themselves upside down, owing more than the home is currently worth when closing costs are factored in.Instead of just walking away from the property and severally damaging your credit this will allow you to request a settlement with the bank to defer the loss when the property is sold.

*Note that lenders will not postpone a foreclosure just because a property is listed, although they may postpone if you have a reasonable offer in the works.

Christina Lujan and Jennifer Badillo can work directly with the bank to show them this may be the best option available and it is very likely that they will allow the loss to move on and get the property sold. Christina and Jennifer have helped hundreds of clients sell their home via a short sale.

If you have any questions about the process of Short Sales please don't hesitate to call or email us. We have been working with various banks for several years and have the knowledge and experience to help you through your short sale process.

Sincerely,

Christina and Jennifer