Twitter Counter

Another Common Northeast OH Short Sale Myth: You Have To Be Behind On Payments Before Your Lender Will Approve A Short Sale

Northeast OH – This is a common myth that is promoted by people that do not understand lenders or the foreclosure process. However, it’s not true.

Get my Free, Step By Step Loan Modification Guide by clicking here.

Many homeowners have short sold their home and never missed a payment. The lenders will approve a short sale where the seller has not missed a payment when the following is in place.

1. The homeowner owes more on their home than it is worth.

2. The homeowner has a verifiable hardship that will force them to miss their payments in the near future.

In these cases, the lenders know it is better to liquidate the home as quickly as possible. A faster sale will reduce their losses on interest and property taxes.

In addition, an owner occupied home usually sells for much more than a vacant home. Sure, the lenders don’t like short sales.

They hate losing money. (Don’t kid yourself.) But, they know that when a loss is inevitable, then it is best to do what they can to reduce the loss as much as possible.

That is why they will approve short sales when the homeowner hasn’t missed a payment yet. In fact, they will probably even negotiate loan modifications with homeowners who haven’t missed a payment either.

Thinking about a loan modification?Our Northeast OH loan modification kit will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail at iandymorris@gmail.com to request a Free Copy. Or, click here to request a copy.

Thinking about a short sale? I can help you short sale your property so you can move on with your life. 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.

Andy Morris specializes in loan modification assistance and short sales in Northeast OH Ohio. Northeast OH Loan Modification Help, Northeast OH Short Sales, Northeast OH Short Sale Realtor, Rocky River Short Sales. Rocky River Loan Modification Help, Rocky River Short Sale Realtor, Bay Village Loan Modification Help, Bay Village Short Sales, Bay Village Short Sale Realtor. Avon OH Loan Modification Help. Avon OH Short Sales. Avon OH Short Sale Realtor. Avon Lake Loan Modification Help, Avon Lake Short Sales, Avon Lake Short Sale Realtor. North Ridgeville Loan Modification Help. North Ridgeville Short Sales, North Ridgeville Short Sale Realtor. Sheffield Lake Loan Modification Help, Sheffield Lake Short Sales, Sheffield Lake Short Sale Realtor. Columbia Station Loan Modification Help, Columbia Station Short Sales, Columbia Station Short Sale Realtor. Grafton Loan Modification Help, Grafton Short Sales, Grafton Short Sale Realtor. Northeast OH Short Sales. Northeast OH Realtor.

Leave a Reply

 

 

 

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>