Dependable Homebuyers Explains Short Sale Process in San Antonio

San Antonio, TX – A short sale is a common solution for homeowners that may be facing foreclosure due to falling behind on their mortgage payments. In recent years, more and more homeowners in the San Antonio area have tried refinancing or modifying their home loans or even tried selling their home previously. Dependable Homebuyers has been helping homeowners in these exact situations for many years.

A short sale provides a solution to avoiding foreclosure in San Antonio by allowing the homeowners to sell the property for a lesser amount than what is currently owed on it. In order to proceed with a short sale, a property owner must obtain approval from their lender first. In approving the sale, the lender is agreeing to accept less. The loan will be forgiven and the homeowner is free to move from the property.

In San Antonio, when a homeowner begins falling behind on their mortgage payments for one reason or another, the lender will start a legal proceeding that will give them ownership of the property. If the process of foreclosure has already been started, it is important for the homeowner to work quickly to get the process of quick sale started. When it comes to negotiating with a lender, the sooner the homeowner begins the short sale process in San Antonio, the better the chances of gaining approval. Getting lender approval in a timely manner will also allow the homeowner to avoid making mortgage payments towards a property that will not provide them with any equity.

In some instances, a homeowner may receive a Notice of Trustee Sale. If this happens, they have likely waited too long to start the process of a quick sale. While this type of situation can certainly prove to be more difficult, there are still options available to the homeowner. Typically, the lender will give the property owner around 90 days to remedy the loan situation. This allows the owner a short window of time to place their home on the market in San Antonio, to get the approval for the short sale, and to find a qualified buyer. With San Antonio continuing to be a seller's market, finding a buyer should not be difficult according to https://www.pressadvantage.com/story/24383-san-antonio-continues-to-be-a-seller-s-market-says-dependable-homebuyers.

Many people are under the belief that when it comes to a short sale, the homeowner simply needs to find a buyer. What many people do not realize is that there is a lot of negotiation that has to be done between the lender and the property owner. This can sometimes take a great deal of time. It is important to keep in mind that it can be a lengthy process. This is why it is important to contact Dependable Homebuyers in San Antonio in order to get the process started right away. This will provide the homeowner with the time needed to have the desired outcome so that they are able to move on from their property.

There are several different factors that determine how long a short sale will take. Factors such as who the lender is, how far behind the homeowner is, and how many loans they have are all taken into account when determining approval. Contacting Dependable Homebuyers in San Antonio will get the process started right away.