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More Information About Short Sales in Montgomery County Below..

Short Sales in Montgomery County Maryland

What is a Short Sale?

A short sale in real estate is where your lender looks to cut their losses by agreeing to a reduced payoff of your loan in exchange for not having to foreclose on the property. 

During a short sale situation, the borrower is still the owner of the property. Unlike a foreclosed property where the mortgage company becomes the legal owner of the property

The final successful result for a short sale is to obtain an acceptable approval from the lenders to sell the property as the seller gets assurances for a complete removal from a deficiency judgment 


Watch the video below and learn more facts about 
What is a Short Sale? 


What is the Process of a  Short Sale?

A short sale is born out of a need when a homeowner realizes that there is no other recourse. . either let the lender foreclose or ask the lender to approve a short sale

The process of a short sale begins with identification of your current financial situation and the need to make a decision
Then comes the qualification period where you ask. .
"Do I qualify for a short sale?
This is when you should seek the services of a real estate short sales specialists agent.

Gathering documentation is the next step of the process and them put your home on the market


Watch the video below and learn more about the process of a Short Sale? 
 

How Can a  Short Sale Specialist Help Me?

Hiring a Short Sale Specialist is not required to close a short sale transaction. However, it would be prudent to team up with someone that specializes in Short Sales for the best results possible

A true professional that is in the "trenches’ daily with all of the lenders, someone that will help you navigate the lender changes and requirements placed on sellers.

Another trait of a true short sale specialist is that you should never pay upfront fees for negotiating or have fees paid outside the transaction. 


Watch the video below and learn special considerations 
ALL short sales specialists need from you
 

How to Short Sale My Home in Montgomery County MD?

Hiring a Short Sale Specialist should be your first and the last step you take alone.
Find someone that you can trust, someone that has experience and trust. .
Someone who is considered a  short sales specialist.
This is not time to take a chance. .
by hiring your cousin or any real estate agent
DO your homework and only work with the best..
the charge is the same to you $0.00 



Watch the video below and learn all the right answers to short sale your home in Montgomery County Maryland 
 

How to Qualify For a Short Sale in Montgomery County MD?

3 Main areas that are considered to qualify for a short sale


  • Financial Hardship
  • A Monthly Shortfall 
  • Insolvency 



Watch the video below where I discus other ways to qualify for a short sale  learn in Montgomery County Maryland 
 

How Does a Short Sale Affect my Credit?

The Credit Impact for a Foreclosure vs Short Sale can be dramatically different. 

In our current challenging market, many homeowners are faced with the decision to try a short sale or just let the property go to foreclosure.


Watch the video below where I discus how a short sale may affect your credit

Why Do We Use an Attorney 

To Help Us In All Our Short Sales?

A short sale negotiator negotiates with the lender representatives. 
An inexperienced negotiator could  put the entire transaction at risk when there is no proficiency in the following areas: 


  •  Refuting the banks assertions of current market value. 
  • Negotiating more than just a release of the lien(s).
  • Negotiating deletion of Promissory Notes and Deficiency Judgments stipulations, etc.
  •  Ability to escalate a short sale transaction to the proper individual or department within the lender organization.

Watch the video below where I discus how our team works to get our short sales approved



Short Sales in Montgomery County Maryland