After the recession and credit crunch of 2007, many Americans are finding it hard to make the monthly payments toward mortgage. As a result, many are opting for foreclosure. Some want to avoid foreclosure and want to take advantage of short sale services. As per the new rule from 1st January, 2011, a seller’s first trust deed lender cannot obtain a deficiency judgment against him after a short sale.
Short sale services are basically for those homeowners, who are in financially stressful positions. If the owner of the real estate property is unable to pay for his mortgage repayment, he can sell his home for a sum which is less than the outstanding mortgage amount. The lender agrees to forego the balance debt amount and gives the homeowner a clear title. However, the homeowner will have a negative item on his credit report and his credit score will get lower. A short sale can be advantageous to a borrower. The advantages are as follows:
* The borrower will no longer have to make monthly payments towards his mortgage.
* A part of his debt (difference between what he owes and the final sale price of his home) is forgiven by the lender.
* He doesn’t have to go through the lengthy process of foreclosure.
* His credit score will not be as low as it would have been in cases of foreclosure or bankruptcy.
* It takes a shorter time than a foreclosure or bankruptcy to make him eligible for a new loan in the future.
If you are also facing difficulty in making payments towards your mortgage, you can take advantage of short sale services by logging onto www.integrityfirstonline.com . For the past 30 years they have diligently helped homeowners to find the right debt solution. They work with the leading lenders all across the United States in solving foreclosure problems. They have a vast network of real estate agents, mortgage bankers, attorneys, institutional lenders. Thus, they can offer you the highest level of customer service and delivery of solutions to help you retain your home. They are the national leaders in the field of short sale negotiating. They have a panel of highly trained and thoroughly knowledgeable specialists who can guide you perfectly in every aspect of the complicated process of short sale. As they operate in every state, you can avail their short sale services from any part of the US. They have proven track records of closing all their short sale requests with success. Contact them and now to save your home!
Determining the short sale appraisal of property you have under contract is one of the most important aspects of the short sale business. Find out accurate information on Short Sale Services online here at Integrityfirstonline.com.*
