Short sales were commonly used during the fall of real estate in the '90s. Put simply, when a homeowner falls behind on their mortgage payments, usually due to loss of their job or rising debt payments, the house is sold quickly. The homes mortgage may exceed its value due to the downturn of the market. Our goal in this process is to work with your lender to sell the home for what the market will bear. If the amount of the sale is less than the amount owed in the mortgage, we will work with the lender to have the remaining debt discharged.

In cases of short sales (as in foreclosures), a delinquent mortgage will negatively affect your credit rating, but with a short sale, you can avoid having a "debt discharged due to foreclosure" on your credit reports. Mortgage and credit experts say that, after bankruptcy, having a foreclosure on your credit report is the worst result and will reduce your credit score by over 250 points. You could also have to wait up to several years to qualify for a mortgage at a reasonable rate.

Short sales show up on a credit report as a "pre-foreclosure in redemption" status and are far less damaging to you credit scores. After the sale, the mortgage may show up as "discharged," or "settled." Homeowners who successfully complete a short sale may also protect their credit for the future purchase of a home.

If you are behind on your mortgage payments or feel that you will soon be unable to make payments then you are not alone. We will help you to get back on your feet.

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We will walk you through your options and help you implement the best possible solution for your situation. Many homeowners are not aware of all the options available to them. Let us help you in your time of distress. CALL NOW!!