Every day we are hearing or reading about home foreclosures. How they are soaring and banks are loosing billions. What is forgotten is the poor homeowner who loses their home. More and more homeowners are looking for help avoiding foreclosure and banks are finally offering the kind of help needed. There are many ways to avoid foreclosure and if all other avenues have been exhausted you might want to consider a short sale.
So what is a short sale? A short sale is when you sell your home and you ask the bank to accept less money than they are owed.
Why would a bank accept this? Because it will most likely cost them more Time & money to foreclosure your home.
What does the short sale process entail? You will put your home up for sale like normal. Once you get an accpeted offer you will apply to the bank to accept the short sale.
Why would I want to do a short sale? It will help you avoid foreclosure and should help you take less of a finacial hit than a foreclosure. It should also make it a lot easier to become a homeowner again.
Some Short sale FAQ's
- You must show financial need for a bank to consider you for a short sale
- There are possible tax consiquences related to a short sale ( Consult your tax advisor)
- Time is of the essence, if the bank has started foreclosure you need to make a decision now.
- Ask a professional, always consult professionals if you are unsure.
The Russell Home Team are experienced negotiators. If you are facing foreclosure and don't know where to turn call us for help. Our goal is to help you save your home but when all options fail we know how to succesfully negotiate with your bank.
Call us today at 913-681-1383 or email me in confidence to michael@russellhometeam.com
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The Russell Home Team specializes in Johnson County Kansas Homes and Real Estate for sale. We are tech savvy realtors with over 10 years experience. Please join us on our Social Networking Network to stay up to date on Overland Park, Olathe, Leawood, Lenexa, Shawnee and all of Johnson Counties real estate news and more...
The Russell Home Team can be reached at 913-735-7104 or info@RussellHomeTeam.com or www.SearchjocoHomes.com
