Homeowners in distress across Newport News, Virginia, can explore a short sale to avoid a financial crisis. Many property owners choose loan modification or try to refinance their mortgage to cope with defaults or delayed repayments. Homeowners often fall behind on their mortgage payments by months, some by years. The likely consequences of such untoward developments can be life altering. There are expected and sporadic challenges with the inevitability of letting go of the property and in some cases still owing some money to the lender.
Short sale is not a stopgap measure. It is a solution for homeowners who want to solve their mortgage crisis. Every property has a current value. The lender may evaluate a property based on its own policies. The market may respond differently. The homeowner may expect a certain return on their original investment. A short sale takes into account a modest value for the property. This value is usually a tad less than what the lender has as the outstanding payment. The value in a short sale in Newport News is not necessarily a conservative or unreasonable evaluation of a property since the outstanding payments owed to the lender include the interest on the principal loan amount.
A short sale enables homeowners to sell their property, raise a sum that the lender will find acceptable and in the process solve their mortgage crisis. Short sale avoids foreclosure. It also prevents forced bankruptcy. Most lenders will be willing to accept a reasonable short sale. They are likely to work with buyers or real estate agents who present a worthwhile proposition. Homeowners in Newport News, Virginia, should explore the option of a short sale to repay their mortgage lender. Not only can a foreclosure be avoided and a potential bankruptcy but also the steep late fines and penalties that are levied on defaulters.
All homeowners can consider a short sale, including those who have received a notice of trustee sale and properties that are at the brink of foreclosure. When a mortgage has turned into a bad debt, the scenario can be quite challenging for homeowners and lenders often take the route of foreclosure and worse. A notice of trustee sale is common for those who have been failing to repay their mortgages for years. This notice or the prospect of a foreclosure does not take away the discretion of a homeowner in Newport News, Virginia, to consider a short sale. The time available for negotiations and to put everything in place is scarce but with expertise and experience by your side it is possible to navigate the challenges.
Dependable Homebuyers have been facilitating short sales in Newport News and across Virginia, among other states in the country. Dependable Homebuyers are real estate consultants with specific expertise in short sale and selling hoarder houses in Newport News, Virginia. The company can represent the best interest of a homeowner, present the terms of a sale, negotiate with the mortgage provider and close the deal. Homeowners can call at (757) 296-8067 and rely on a free and nonobligatory consultation, then appoint Dependable Homebuyers if they so choose to initiate and close a short sale.
SOURCE: Press Advantage [Link]
Dependable Homebuyers is a local home buying company in Newport News, VA. We buy houses in any condition and any situation. If you want to sell your house fast, give us a call at (757) 296-8067 and we’ll provide you a cash offer within 24 hours.