A short sale in Elk Grove CA entails an agreement in which your mortgage lender agrees to accept a payoff on the loan for less than the balance owed. Many lenders agree to a short sale because they receive more of the loan balance in comparison to the amount they would gain from selling the property following a foreclosure. This process also aids in maintaining home values, which helps the lenders, and helps the homeowner maintain a better level of credit compared to the Effects of Foreclosure. In most instances, homeowners considering a short sale must meet specific criteria to qualify: Here’s where the assistance of a “professional” is extremely helpful! Why Choose Tom to handle your Elk Grove Short Sale?
A short sale is not a typical real estate transaction. Most real estate transactions involve the home seller and their real estate agent, the buyer and their lender, and their real estate agent. In a short sale situation, all of those parties in addition to the seller’s loan servicer, a housing counselor, any junior lien holders, mortgage investors, and insurers may be involved too.
Contact an Experienced Short Sale Negotiator Tom Lichtenberg for your Options, Timelines, & Strategies today!