CT Short Sale Stops Foreclosure
If you are a homeowner struggling to afford your home, you may be desperately looking for an alternative to foreclosure. We have good news! A short sale allows you to get out from under your property while also potentially being forgiven of all debt owed to the mortgage company.
- What is a Short Sale?
A short sale occurs when a homeowner owes more on their home than it is currently worth, and the lender agrees to accept a lower amount in selling the home or property. In most cases, the lender will forgive the borrower of the remaining deficiency amount at closing. Remember, this isn’t automatically the case and short sale terms differ depending on your lender and the amount still owed on the loan. An experienced Short Sale Realtor, like Rob Rosa and his team, can get the job done.
- How do you qualify for a short sale in CT?
You must be able to prove to your lender that you are experiencing a financial hardship that is preventing you from being able to afford the home or property. Some of these hardships can include job loss, divorce, decreased income, job transfer, relocation, vacant rental property, medical expenses, and others.
- How much will a short sale cost?
For Rubicon Crossing's clients short sales are at absolutely FREE to borrowers! The lender pays all traditional seller closing costs which includes Realtor fees and commission.
- Do I need a Realtor to short sale my home?
Yes, but not just any Realtor will do. You need a short sale Realtor, like Rob Rosa and his team, experienced with the short sale process. Many homeowners think that as long as the real estate agent is licensed they are capable of completing short sales. This is simply not the case and couldn’t be farther from the truth. When seeking the FREE services of a short sale specialist it is important to find an agent with a proven track record. It is also helpful if the agent has previously completed several short sales with your mortgage company so they are more familiar with the terms and conditions associated with the process.
- How will a short sale affect my credit?
A short sale transaction itself will typically lower your credit score to a point. The biggest hit to your credit comes from missed mortgage payments, which can average 30 or more points each missed payment. This is why it is so important to begin the short sale process as soon as possible. The sooner your home sells the fewer payments you will miss.
Do you qualify for a short sale in CT? Email us at email@example.com or call us at (860) 558-2122 today to find out! We can direct you to a short sale specialist that can guide you through the short sale process for FREE. Contact us now before time runs out for you to apply for a short sale in CT!