What is a short sale?
Foreclosure is a scary process. On the bright side, if you are facing foreclosure you may qualify for a short sale instead. A short sale is when you sell your home for less than the balance remaining on your mortgage. This is also known as a pre-foreclosure sale.
The transaction may not sound ideal but a short sale is often a better option than bankruptcy or foreclosure. The benefits of a short sale are that you can avoid the arduous foreclosure process; you can begin to repair your credit sooner; you may qualify for relocation assistance; and you can reduce or eliminate your mortgage debt.
A short sale may be an option if:
You are facing a hardship
You are ineligible to refinance your mortgage
You owe more on your home than what it’s worth
You have not received offers on your home that cover what you owe
You relocated for work
At Casabella Miami Realty,a group of licensed professionals have initiated Project S.A.V.E. to help individuals save their homes from foreclosure. To find out whether a short sale is an option for you contact one of their specialized agents at 786-542-1655.
