Portland Short Sale Agent 2013
Your home is valued at less than what you owe on your mortgage. You’re experiencing financial hardship and need to downsize to a new home but can’t sell your underwater home until the market changes. You don’t want to ruin your credit or be in a situation where you have to wait for months to buy again. Sound familiar?
With the help of a Portland real estate agent experienced in short sales, your headaches could be over. Short sales have helped thousands of underwater homeowners in Portland sell their home and get out of mortgage debt.
What is a short sale? A short sale allows the homeowner to sell his or her home for less than is owed on the mortgage. Banks often prefer to negotiate a short sale over letting the home go into foreclosure, and many fees and costs (if not all) are waived. You get to walk away and start over.
How long do short sales normally take? Anywhere from a three to nine months typically. Short sales were designed to prevent foreclosures, which can hurt your credit badly, and give buyers and sellers an avenue to find a mutually agreeable price based on the home’s real value. The bank accepts what the buyer is willing to pay.
Unfortunately, short sales are not as common as they could be because of the long and fragile series of negotiations involved. Often, multiple lenders are involved, or the buyer may find something better and pull out. It takes an experienced Portland short sale agent to stay on top of the communications and paperwork to move the deal along.
Here’s the good news – the Mortgage Debt Relief Act has been extended until 2014, meaning Portland homeowners who choose to short sell won’t owe tax money on the amount of debt that is essentially forgiven by the bank in a short sale.
There’s no reason to sit in an underwater home, wondering how you’re going to make the next mortgage payment, and wishing you could start over. The great thing about short sales is they do give homeowners that second chance.
If you think a short sale might be for you, the first step is to find a Portland short sale agent who is a Certified (C.S.S.A). I can walk you through the steps to a successful short sale and help you avoid the pitfalls. Freedom is just a phone call away (503-714-1111)! My team has closed on 100+ Short Sales in Portland with an over 90% success rate. Plus, I won’t charge you a dime!February 22, 2013