CHUCK WARTMAN 719-231-5525
Many America's have a mortgage who may owe more on their property than they are currently worth. They would be forced to bring money to closing that they may not have. Some folks are late on there home mortgage payments for many reasons outside of their control. You have options! I am always available to answer your question about a Colorado Springs Short Sale. Call me now (719) 231-5525
The term short sale is derived from the act of selling your home for short of the amount owed. Short sales occur in real estate when a lender accepts a shorter pay off amount on a loan rather than foreclosing on a property. A lender will agree to a short sale generally when the borrower can can show some sort of hardship. ie financial, personal, work or medical.
Since lenders have developed a more lenient attitude towards homeowners in recent times, there are normally three qualifications required for a short sale. 1.Financial hardship such as: loss of employment or income, divorce or separation, relocation or job transfer, property in need of repairs without resources to make repairs, major sickness and medical expenses, death of a family member, vacant rental properties, etc. 2. The proceeds of the sale of the property, after all closing costs are paid, are less than the amount currently owed on the home. 3. Financial Insolvency.
One benefit from short selling your home is that your record will usually bounce back within 2-4 years, which will give you time to pay off old debt and re-establish your credit once again and qualify for loans. Credit history usually reads as “settled in full” or “paid as negotiated” this will usually not affect any future employment whereas a Colorado Springs foreclosure may effect current and future employment. Whenever a foreclosure is a possibility, do as much research on Colorado short sale Realtors before a decision is reached. if you choose a short sale, a short sale specialist is the correct answer. A qualified and highly trained short sale Realtor will walk you through the steps of the short sale process while being responsible for all negotiations on your behalf.
There is no obligation, I'm happy to help and tell you what I know.
I love our customers, so feel free to visit during normal business hours.
1740 Chapel Hills Drive,
Monday - Friday: 9am - 5pm
Saturday: By appointment