When purchasing a home, nobody anticipates a foreclosure down the road. In the current state of the economy, many home owners are finding themselves in this situation. If it is you, you are not alone. If you want to avoid imminent foreclosure, and a loan modification is not viable, a short sale may be your only option. You need not worry about Realtor Fees or commissions, the bank will pay any/all commissions for the seller to get the property sold.It is crucial to be proactive and get started right away. Every one’s short sale situation is different. You may or may not qualify. In addition, there are many factors to consider and become very familiar with in order to make sound decisions such as: recourse debt, non-recourse debt, sold out junior, subordinate liens, state and federal tax guidelines etc. For some of these very important topics you may need to consult legal council specific to this area as well as a very qualified CPA who practices in this area.
If your home is underwater, and you are considering a short sale, it is most important that you begin quickly. Call immediately for your free consultation. The information is free, waiting could cost you!