An El Dorado Hills short sale can be the best option for your property today. You wouldn’t want to go through a devastating and lengthy foreclosure process. Neither will you want a foreclosure to remain and affect your credit score up to 10 years. Not to mention how the whole dilemma demoralizes you and everyone in your family. But if you short sale your property today, a foreclosure and even bankruptcy is far from happening.
El Dorado Hills Property
El Dorado Hills is a premier location for both commerce and residential purposes. Thus, having a home or property in this district is what many California residents dream of. But what if the dream transforms into a monetary nightmare? What if your mortgage is no longer something you can afford to pay and your lender is not willing to restructure your loan? What if unexpected circumstances justify the fact that it is no longer feasible to maintain an expensive property? It could be due to a health or medical issue, losing a job, divorce, and others. In this case, an El Dorado Hills short sale is the best option for you.
Short Sale
But how does an El Dorado Hills short sale benefit you? First of all, you should know that a short sale will have you enter into a compromised agreement. You are selling your home at a lesser value than what you actually owe. You don’t earn money from it but at least you are rid of debt problems in relation to your mortgage for good. You also avoid potentially more damaging scenarios like a foreclosure, bankruptcy, and a damaged credit score.
Aside from you, even lenders will benefit from a short sale. They too will prefer not to undergo a long foreclosure proceeding and the trouble of offering the property in the market should it ever gets foreclosed. With a declining real estate market, lenders would prefer a short sale agreement than taking over your home and marketing it. Thus, an El Dorado Hills short sale will be beneficial for both parties.
Even buyers benefit from an El Dorado Hills short sale. This enables them to purchase the property at a discounted price and makes it easier for you to dispose of it as well as the debts attached to it.
Short Sale Issues
It’s not as easy as it sounds, however, as not all lenders are willing to enter into a short sale right agreement right away. Not all sellers are actually even qualified. Short selling your property is not advisable if you have not missed multiple payments yet. This only applies once there is already concrete evidence that a potential debt problem is happening. Otherwise, your lender may still be able to allow a few missed payments.
Although foreclosure proceedings are avoided with a short sale, there is still paperwork involved. This applies to all three parties involved – you, the lender, and the buyer as well. Once the bank or lending institution agrees with a short sale proposal, you will then need to hire an agent who will in turn find a buyer. The rest of the process will involve supporting documents too.
In today’s economy, a short sale is the best option for you against the threat of a foreclosure or even a bankruptcy. Call your lender today and compromise. Do yourself a favor and get rid of debt issues for good.
Wanting to sell or purchase a property in MLS El Dorado Hills? Contact Dameri and Trexler via www.dameriandtrexler.com.
El Dorado Hills Property
El Dorado Hills is a premier location for both commerce and residential purposes. Thus, having a home or property in this district is what many California residents dream of. But what if the dream transforms into a monetary nightmare? What if your mortgage is no longer something you can afford to pay and your lender is not willing to restructure your loan? What if unexpected circumstances justify the fact that it is no longer feasible to maintain an expensive property? It could be due to a health or medical issue, losing a job, divorce, and others. In this case, an El Dorado Hills short sale is the best option for you.
Short Sale
But how does an El Dorado Hills short sale benefit you? First of all, you should know that a short sale will have you enter into a compromised agreement. You are selling your home at a lesser value than what you actually owe. You don’t earn money from it but at least you are rid of debt problems in relation to your mortgage for good. You also avoid potentially more damaging scenarios like a foreclosure, bankruptcy, and a damaged credit score.
Aside from you, even lenders will benefit from a short sale. They too will prefer not to undergo a long foreclosure proceeding and the trouble of offering the property in the market should it ever gets foreclosed. With a declining real estate market, lenders would prefer a short sale agreement than taking over your home and marketing it. Thus, an El Dorado Hills short sale will be beneficial for both parties.
Even buyers benefit from an El Dorado Hills short sale. This enables them to purchase the property at a discounted price and makes it easier for you to dispose of it as well as the debts attached to it.
Short Sale Issues
It’s not as easy as it sounds, however, as not all lenders are willing to enter into a short sale right agreement right away. Not all sellers are actually even qualified. Short selling your property is not advisable if you have not missed multiple payments yet. This only applies once there is already concrete evidence that a potential debt problem is happening. Otherwise, your lender may still be able to allow a few missed payments.
Although foreclosure proceedings are avoided with a short sale, there is still paperwork involved. This applies to all three parties involved – you, the lender, and the buyer as well. Once the bank or lending institution agrees with a short sale proposal, you will then need to hire an agent who will in turn find a buyer. The rest of the process will involve supporting documents too.
In today’s economy, a short sale is the best option for you against the threat of a foreclosure or even a bankruptcy. Call your lender today and compromise. Do yourself a favor and get rid of debt issues for good.
Wanting to sell or purchase a property in MLS El Dorado Hills? Contact Dameri and Trexler via www.dameriandtrexler.com.