Don't give up yet, let us help you avoid foreclosure.

If you are just a couple of months behind on your mortgage their is still time to save your credit and your home. Many homeowners are not aware that they can avoid foreclosure with a "short sell".

Simply put a "short sell" means the bank is willing to take less than what is owed on the mortgage in order to avoid the cost of filing foreclosure documents.

Your real estate agent will negoiate with the bank on your behalf and get them to agree to take less than what is currently owed on the property. The property needs to be listed with an agent in order for this scenario to work. Then when a buyer is interested in the property, the agent will present the offer to the bank. Once accepted the agent will also work to get a release signed by the bank stating that after closing you will no longer be obligated to them for the loan. It is very, very important that you obtain this release. Otherwise the bank can come back to you for the remaining amount.

Benefits of a short sell
For the homeowner, you can avoid foreclosure and save your credit. Basically a short sell registers as a really big charge off on your credit report. Although this still dings your credit, it does not totally destroy your credit. A charge off is much easier to recover from in just a short time. A foreclosure takes years and years to recover from, at least 7 years.

For the bank they save the hassle and expense of filing foreclosure documents and paying an attorney for costly court appearances.

How do I get started?
Don't wait any longer. Call or email Leniece today to list your home and negoiate a short sell with your current motgage company. Don't let the bank take your home along with the next 7 years of your life!

Leniece Lane
A Realty Experience
828.289.4010
leniece@listwithlane.com