SEARCH MD SHORT SALES

Sometimes, a Loan Modification is a solution for a borrower who wants to stay in their property.  A  mortgage pay rate reduction will lower the monthly mortgage payment to a manageable amount.  Maybe the payment has not been made for a while, but the borrower can now afford to start making payments again.

The borrower has to qualify again for a loan. The most important factor the bank will check out is your ratios. . .can you afford the monthly payment based on your verifiable income?  “Reportable” past income history for the last two years. . . reported. 

Contact Fernando for a free consultation to discuss in more detail the Short Sale option for you in Maryland, DC or Virginia
Fernando Herboso

SEARCH MRIS SHORT SALES 

When is a short sale an option?
The first thing you’ll probably need to find a real estate agent experienced in short sales.

Essentially a Realtor will find a buyer and negotiate with your bank to take a smaller payoff and you can avoid foreclosure all together.

There are requirements that you must have to qualify for a short sale.  For a free consultation and to learn more about a SHORT SALE in Maryland, DC or Virginia please contact me.

Fernando Herboso

SEARCH MD DC VA SHORT SALES 

As a Realtor dealing with several short sales  listings I speak everyday with good people that are behind in their payments and when a foreclosure is slowly  becoming a reality. .

If you are in this situation. .
I would advise anyone to discuss it with an experienced Realtor. Short Sales are not a part of real estate basic training but there are a number of Realtors that have adapted to the reality of the market out there. . in just Maryland DC and Virginia there are thousands of short sales being offered. Realtors have an incentive to get involved in Short Sale situations because they get paid by the banks.

It is the only way to sell a home and the seller not pay a commission .. .

and it’s the only way to sell a home when you owe MORE to the bank than your house is worth.
The basic requirements for a Short Sale are a Listing Agreement with a Realtor and a Sales Contract from a Buyer which are submitted to the Lender along with a Hardship letter from the Seller explaining why they cannot continue to pay the mortgage and supporting documents such as tax returns, bank statements, additional information that your Realtor may provide and maybe the difference that will get the short sale accepted.

It is critical you work with someone with experience. . .after all most Realtors can take a short sale listing. . but only a few know how to make it a success and create  a win-win for you and the bank.

CONTACT SHORT SALE AGENT/REALTOR
Fernando Herboso