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Should I Short Sell My Home?

July 26, 2009

Short sales are becoming a more common way for homeowners facing foreclosure or too much mortgage payment for their budget to sell their homes and rescue thier credit.  The government is encouraging banks to accept short sales as a more desirable alternative to foreclosure. A Short Sale can be a win-win-win for the seller who can avoid foreclosure and resuce thier credit,  for the buyer who gets a good deal, and for the lender who nets more than they would in the case of a foreclosure.

Even so, a short sale is not a solution for every homeowner, banks are overloaded with short sale applications and are not all equal in thier ability to complete a short sale in a timly way, and real estate agent are not all trained to successfully complete the process.

Anyone wondering wheter a short sale would be a good option for them will  find the article, “Struggling Homeowners Opt for Short Sales to Avoid Foreclosure”  by Karen Rivedal, published in The Wisconson State Journal worthwhile reading. This artice provides a comprehensive picture of the short sale process, the benefits and the challenges.

One Comment leave one →
  1. September 29, 2010 4:03 pm

    might be worth watching the video if you are considering this..hope it helps

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