The recent slowdown in the housing market is causing many homeowners to fall behind on their home payments. If you can not sell your house fast and you are losing your home to foreclosure, you have one last option. Have a professional home buyer complete a short sale.
A short sale is a process that will allow you to sell your home and be free of debt. There are many reasons why I suggest that a professional real estate investor go through the short sale process.
1. The most important reason is that this is your last chance to stop foreclosure and a short sale can do it.
2. You need someone who is an expert in short selling, not just someone who knows the process. A successful short sale will be a combination of factors including negotiating with credit loss mitigation staff and filing a large amount of paperwork.
3. Lenders won’t even look at the short sale package until you have a signed and accepted offer for your home.
4. Realtors do not buy houses and therefore lose valuable time listing your property when that time is vital to the short sale process.
5. Real estate investors buy houses, you get your offer accepted, lenders accept and process your short sale paperwork
6. You must know the benefits and consequences of making a short sale.
7. It’s free for a professional home buyer to make a short sale, it costs you nothing.
In Idaho, your mortgage company will generally allow you 90 days late before filing a delinquency notice on the Idaho Business Review Magazine or the Idaho Statesman newspaper. This delinquency notice makes a public record that your home is in foreclosure.
The foreclosure rate has increased significantly in Ada and Canyon County, Idaho. Most Idaho foreclosures occur in Boise, Nampa, Meridian, Eagle, Caldwell, and Star. Many Boise Idaho residents who are losing their homes to foreclosure wonder how they can stop foreclosure quickly and move on with their lives. Well, if you need to sell your house quickly, contact your local home buyer and see how they can help. If you don’t have equity in your home, a short sale may be your best option.