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Northeast OH Short Sales: Why Might a Short Sale Be Preferred Over a Loan Modification?

Northeast OH – Homeowners who would prefer to get out from underwater may prefer to do a short sale compared to a loan modification.

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

A short sale means the bank will accept a reduced payoff and release the loan. If your home is worth dramatically less than the amount owed, it might make more sense to do a short sale and be relieved of the burdened debt.

Loan Modifications are changes to your loan agreement. Your payments get more affordable, but your loan balance is not reduced in any way.

In fact, many loan modifications will adjust your payment back up after 3-5 years.

Here are other factors to consider:

1. After 2 to 3 years of maintaining credit, if prices remain stable, homeowners may qualify to buy another home with a mortgage and a payment that is affordable.

2. Both a loan modification and a short sale may affect credit. But either solution is generally better than a foreclosure.

3. Most of the short sale listings I sell in my area involve sellers who were denied a loan modification.

I can help you make a decision on what option to take based on your current situation. 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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