“A Short Sale” has become quite a buzz word in real estate today.  Many people are unsure of exactly what this term means and how it might help someone.  For homeowners that have fallen behind on their payments or are having difficulties making their mortgage payments due to a hardship of some sort, a short sale may be an option that should be considered.  The most important point to make here is:  foreclosure does not have to happen!

In a recent study of homes in the West Chester and Liberty Township, Ohio areas that were facing a sale at the Sheriff’s Sale in Butler County, I found that a very high percentage of the homes had not been on the market for sale in the months leading up to the foreclosure.  The only conclusion that can be drawn here is that many homeowners don’t know that they can sell their home utilizing this process and avoid foreclosure and the extreme damage that is done to their credit.

A West Chester or Liberty Township, Ohio real estate short sale is an opportunity to get out from under a home you owe more money on that the current market dictates it’s value at.  A short sale is the process of negotiating with the mortgage company(s) to accept a short payoff (less than the balance owed).  For instance, you have a mortgage of $100,000, but your home is only worth $85,000 in today’s market.  The lender agrees to accept the proceeds from a sale at $85,000 as payment.  To qualify for a short sale you usually have to demonstrate an economic hardship like a job loss, family illness or some other change in your financial status.  Also important to note here is that you do not pay the real estate fees involved in the sale, the mortgage lender does.

If  you or someone you know could possibly benefit from a short sale, please feel free to call me directly for a confidential conversation at 513-874-1830.

Learn the current market value of your home!

Check Out My Feature Homes For Sale In West Chester and Liberty Township, Ohio