What is a Short Sale?

A short sale is a sale of real estate in which the proceeds from selling the property will fall short of the balance of debts secured by liens against the property and the property owner cannot afford to repay the liens’ full amounts, whereby the lien holders agree to release their lien on the real estate and accept less than the amount owed on the debt. Any unpaid balance owed to the creditors is known as a deficiency. Short sale agreements do not necessarily release borrowers from their obligations to repay any deficiencies of the loans, unless specifically agreed to between the parties.

A short sale is often used as an alternative to foreclosure because it mitigates additional fees and costs to both the creditor and borrower. While credit is also typically damaged much less than from a foreclosure, both often result in a negative credit report against the property owner.

Thanks to the extension of the Mortgage Debt Relief Act until January 2014, homeowners who are still underwater in South Florida still have time to take advantage of the short sale option, and have confidence that any short fall that remains on their mortgage will be canceled or forgiven.

Do You Qualify For Short Sale?

If your mortgage is underwater, and you’ve been thinking about short selling your home, here’s what you need to know about short sales.

To qualify for a short sale, you must be able to show reasons why your mortgage is underwater including: a prolonged job loss or unemployment, death of the primary income earner in your family, or loss in the value of your home due to the recent decline in the real estate market.

Most short sales are approved in as little as 30-60 days (depending upon lender) and it’s possible for a homeowner to be able to buy a home again in as little as 2 years.

Avoid Foreclosure!

You can save your credit score and secure your financial future absolutely free.
We understand every homeowner’s struggle to maintain a well-balanced financial state to keep up with their mortgage and avoid the threat of foreclosure. The McClintock Group has developed an effective arrangement that benefits Florida homeowners in need. Our system ensures that homeowners needing assistance don't have to pay us anything. Any part of the consultation – whether it leads to a short sale or a deed in lieu of foreclosure process – is paid strictly by the lender and/or the buyer.

Let us help you understand the ways to save yourself from debt, protect your financial stability, and get mortgage help in Florida. All you need to do is recognize the signs and take immediate action to avoid foreclosure. We will find solutions to help you get your financial security back before it becomes too late – free of charge.

The McClintock Group has a team of highly skilled experts, including attorneys, short sale negotiators, and processors, who will be made available to you for face-to-face meetings at our offices upon request. We are available to address any questions or concerns that may come up throughout the process.

To learn more about short sales call me Today 561-331-2444