SHORT SALE

• Financial Hardship: The homeowner experiences financial hardship, such as job loss, medical expenses, divorce, or other circumstances, making it difficult to continue making mortgage payments.

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• Negotiation with Lender: Foreclosure Problems Solved will contact the lender to discuss the possibility of a short sale. The lender assesses the homeowner's financial situation and the property's current market value.

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• Listing the Property: With the lender's approval, Foreclosure Problems Solved lists the property for sale. The listing price is typically based on the current market value, which may be lower than the outstanding mortgage balance.

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• Purchase Offer: Foreclosure Problems Solved makes an offer on the property, and if accepted by the, the offer is submitted to the lender for approval.

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• Lender Approval: The lender reviews the buyer's offer and determines whether to accept, reject, or negotiate the terms. Lender approval is crucial for the sale to proceed, Foreclosure Problems Solved is an expert at this critical point in the short sale process.

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• Closing: If the lender approves the short sale, the transaction moves forward to closing. The sale proceeds are used to pay off a portion of the mortgage debt, and the lender agrees to forgive the remaining balance.

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• Short sales can be complex and time-consuming, involving negotiations between the homeowner, the buyer, and the lender. This why you need Foreclosure Problems Solved as your advocate. This is often pursued as an alternative to foreclosure, which can be more damaging to the homeowner's credit. We are here to help you in any way possible.

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