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Long Island Short Sales
WHAT IS A SHORT SALE?
A Short Sale is the sale of a house in which the proceeds fall short of what the owner still owes on the mortgage. Many lenders will agree to accept the proceeds of a short sale and forgive the rest of what is owed on the mortgage when the owner cannot make the mortgage payments. By accepting a short sale, the lender can avoid a lengthy and costly foreclosure, and the owner is able to pay off the loan for less than what he owes. We are experts in helping your find and successfully negotiate a short sale.
Selling Your Home as a Short Sale:
There are many ways to lose a home but signing away ownership in a manner that destroys credit, embarrasses the family and strips an owner of dignity is one of the hardest. For owners who can no longer afford to keep mortgage payments current, there are alternatives to bankruptcy or foreclosure proceedings. One of those options is called a "short sale."
When lenders agree to do a short sale in real estate, it means the lender is accepting less than the total amount due. Not all lenders will accept short sales or discounted payoffs, especially if it would make more financial sense to foreclose.
As real estate agents, we are not licensed as a lawyer nor a CPA and cannot advise on financial, tax or legal consequences. What we can do is use our proven formula of assembling our team of professionals to help you get out from under the burden of your home. We are not new comers entering the market to prey on distressed home owners, and will be gone tomorrow. We are agents working with Long Island's premiere Real Estate company, Prudential Douglas Elliman Real Estate. We have a vast network of resources, and a caring team of agents who will work with you offering you personalized service and support from start to finish.
For a free no obligation, no pressure consultation call us at 631-777-4663.
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