Short Sales & Frequent Questions…Empowering Information!

The “Longer Version” of “Short Sales” Part One…

When I meet with a client for the first time who is considering loan modification, one of
the first things I ask them is about their hardship and their current financial situation.

We evaluate their position and ascertain whether they really want to stay in their home or
not.  We look at the present value of their home and compare that to the outstanding loan
balance(s).  If they are really upside down and do not have a strong emotional tie to the
house, I recommend that they look to “Short Selling” their home.

Current market conditions in Southern Nevada, along with the realization that unemployment
is rising, and more ARM re-sets are on the horizon…we are a long way from an economic
recovery.  “Foreclosure” and its negative impact on a person’s financial profile is not a
good option…“Short Sale” is!

Over the course of the next couple of posts I will discuss different pertinent questions
that frequently arise concerning “Short Sales”.

It is important that clients have a clear understanding to that they can make the best
decision.  This is Empowering!

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