Considering a Short Sale?
A short sale may be a better option for you and your credit rating than foreclosure.
You may be a good candidate for a short sale if:
-You face a financial hardship that makes you unable to pay your mortgage.
In a lender's eyes, legitimate financial hardships include:
-Loss of a job
-Medical Emergencies
-Divorce
-Bankruptcy
-Death
-Be prepared to prove your hardship.
-You owe more on your home than it is worth: If home prices in your surrounding area have plummeted, a comparative market analysis
prepared by a professional realtor may show that your home is worth less than the unpaid balance on your mortgage.
-You have no assets, and little or no equity in your home; Savings, Stocks, IRAs, and other real estate holdings are all considered assets.
If you have any of these, the lender may still agree to a short sale, but possibly with the condition that you pay back the difference
between what is owed on your loan and the agreed-to sale price. If that is the case, Prudential Kovack will help you negotiate the
best terms possible.
The best way to determine if a short sale is the right choice for you is to talk to a real estate professional. An experienced
agent can explain the details of a short sale and will work on your behalf to make the process go as smoothly as possible.
Make sure to state in the question field that you would like to receive a Free Short Sale Guide