Need to sell, but owe more than your property is worth?
Are you facing foreclosure?
If so, we can help.
As Certified Distressed Property Experts, Nicholas Wild and his team has helped hundreds of homeowners and investors over the years get out of from under the weight of foreclosure, and upside down mortgages through the Short Sale process.
How Do I Know a Short Sale is Right for Me?
There are certain factors that must exist before a lender will consider a short sale. Ultimately, the likelihood of a short sale being accepted depends on how wide the gap is between the amount you owe on your loan and the amount that is being offered to purchase your property.
It also depends on what the lender has decided is the absolute lowest they will accept on the loan. Other factors such as your ability to adhere to the lender’s requirements and timelines, and your ability to prove that you are unable to pay your mortgage also play a role.
To prove your inability to pay, you will need to provide a hardship letter explaining why you are unable to make your mortgage payments, along with supporting documentation such as financial worksheet, pay stubs or P&L Statements, tax returns, etc. There are other documents as well that are required, but the best way to know if this is the right option for you is to schedule a confidential consultation to discuss your specific situation.