When To Consider A Short Sale
A short sale is in many ways like surgery.
It is not a homeowners best option… Their best option is always paying their mortgage. However, depending upon one’s circumstances, it may be their only option. In this light a short sale can be healthier than foreclosure or bankruptcy.
When Should One Consider A Short Sale?
- You should consider selling your home short if you have sought to modify your loan with your bank to make the payments more affordable but were unsuccessful.
- You should consider selling your home short if you are no longer able to make your mortgage payments due to financial hardship such as a job loss.
- You should consider selling short if you are missing payments and will be foreclosed upon by your lender if something does not change.
Each of these situations are unique and do not always justify a short sale. These are simply reasons to consider a short sale.
To understand short sales in greater detail and to discuss your homes value contact me!
