FIVE THINGS DISTRESSED KNOXVILLE HOMEOWNERS NEED TO KNOW ABOUT SHORT SALES.
# 1 Short Sale V.S Foreclosure
A homeowner will be eligible for a mortgage sooner with a short sale. Many employers are requiring credit checks on all job applicants. A short sale is not reported on a credit report and is therefore not a challenge to employment. A foreclosure is one of the most detrimental credit items an applicant can have and in most cases will challenge employment.
# 2 A Short Sale Is Not Costly To A Homeowner
Many Knoxville homeowners who are considering a Short Sale are having some financial troubles. They think they can’t afford to pay a real estate commission and the fees associated with the short sale of their home. If you are a qualified homeowner for a short sale, your lender will pay all the fees associated with selling your home. So the cost to the homeowner will be nothing.
# 3 You Do Not Have To Behind On Your Mortgage Payments To Qualify For A Short Sale
If you can prove to your lender you have a verifiable hardship, monthly cash flow shortfalls or pending shortfalls, you may be a candidate for a short sale. Your lender wants to work with you, they don’t want to foreclose on your home. So the sooner you realize you are going to have a problem and work towards a solution the better off you are going to be.
#4 It Is Never Too Late In The Foreclosure Process To Do A Short Sale
Your lender can stall the foreclosure up to the final day of the process. Most lenders will stop it with a simple phone call from you explaining a legitimate contract on your home. That is why it is so crucial not to ignore your current situation and if you are having problems.
#5 You need a qualified professional with knowledge of the Knoxville Short Sale process.
In order to get a short sale approved you need a qualified professional. One such person is a person that has the Certified Distressed Property Experts Designations (CDPE). They have been trained in the short sale process and know how to help you with your situation and get your short sale closed. On average a person with this designation gets 8 out of 10 short sales approved. A short sale is a long and complicated process for and untrained professional
If you are a Knoxville homeowner who is facing foreclosure. Call Me you have options better than foreclosure. We can setup a free no obligation consulation to discuss your situation 865-696-9002 or [email protected]
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