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A Common Northeast OH Short Sale Myth: You Must Have Defaulted On Your Loan Before Your Lender Will Talk About A Short Sale

Northeast OH – The Stop Foreclosure Institute recently received a question from Nathan. Here was his question.

“I’ll stop making the payments on my condo. That way we can start on the short sale process with my lender. How far behind do I have to be before they will start negotiations.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Nathan’s comment reveals a common myth people have about short sales. They believe that a lender won’t approve a short sale unless the borrower has defaulted.

Here is the truth. Yes, some lenders will not approve a short sale unless a borrower is behind on their payments. But, that is only in certain specific instances.

But, most lenders will approve a short sale for a borrower that is current on their payments. They will ask if there is a hardship that requires the home to be sold.

“Is the borrower moving for a job transfer?”, they ask us. The bottom line is that you do not have to be behind on your payments for your lender to approve a short sale.

It is better to start the short sale negotiations while you are still current. You might even be eligible to buy another home right away.

Contact me for more info on a new program that allows you to short sale and buy a new home right away. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at iandymorris@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (440) 348-5500

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Northeast OH loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Andy Morris.

Andy is a Real Estate Broker at Realty Trust Services.

Phone: (440) 348-5500. iandymorris@gmail.com.

View My homes for sale at www.rtserve.com.

Andy Morris specializes in loan modification assistance and short sales in Northeast OH. Northeast OH Modification Help, Northeast OH Short Sales, Northeast OH Short Sale Realtor, Northeast OH Short Sales. Northeast OH Realtor, Northeast OH Stop Foreclosure, Northeast OH Foreclosure Prevention, Prevent Foreclosure Northeast OH, Northeast OH Foreclosure Defense, Northeast OH behind in Payments.

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