Sell My Home Fast – A Better Alternative To A Short Sale

SellMyHomeFast-unhappy-coupleIf you are in any way inclined to undertake a short sale on your property, hoping to sell my home fast, you really, really need to read this article first. There may be a much better option that you are not aware of!

Warning – Much of the information contained below will be considered bleak and even downright depressing. But if you are among those with a need to sell my home fast, I encourage you to read on.

Scenario – You are stuck with a mortgage that you cannot afford, on a property that has lost much of its value since the mortgage began.

Is it time to walk away? Are there options available to “sell my home fast” and get out of this mess?

Many owners, after finally reaching the end of their limits, look to a short sale as the only way out.

Let’s briefly explain some of the options that people consider:

Loan Modification – The main goal here is to lower the monthly payments, to make it more affordable. It may be possible to get monthly payments reduced from $2000 to $1500. However the principal of the loan remains the same, meaning that you are still $100k upside down, but now for a longer period of time, and will eventually end up paying a lot more interest.

Honestly, no way is that a good option!

Short Sale – This is what many people turn to eventually. It is seen as the only alternative. You make the deal, then you try to sell the house for whatever can be got, allowing you to walk away free.

Does this work? The statistics tell the painful truth – no they don’t.

Nationally in the United States the success rate is below 20%. In some of the hardest hit markets, the success rate is 10-15%.

Not much need to comment on that, except to highlight some points: Out of every five people that go down the short sale route in the hope of being able to ‘sell my house fast’, maybe one will be successful. Very bad odds!

But what about the ones who were not successful? Six months, nine months, even two years of waiting, with nothing to show for it.

It’s not so much the failure, it’s the interminable waiting and hoping, turning more and more towards depression and despair.

So what is the other option? I will try to explain it briefly. Use the services of a home acquisition specialist, i.e. an expert in real estate and in property law.

Some of the features of the process:

How it works: just imagine if you had the knowledge and power to barge right into the legal department of the bank or lending institution and demand to know the legality of the mortgage. Demand copies of every single document involved, and begin the detailed and lengthy process of checking the veracity of every one.

Do this in a manner that the bank must accede to, it’s the law!

However, a caution. There are restrictions, this option will not be available to everybody hoping to ‘sell my home fast’. Sorry, but that’s just the way it is!

The premises must be liveable, and saleable. Location and condition are the two primary factors in determining whether this can be used to help you.

So unless you are determined to hang on to the bitter end, do not opt for a short sale, instead make the decision to get in touch with us today, and speak to one of our professionals directly.

To get in touch directly with one of our experts click here to contact us.

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Posted on March 7, 2012 at 2:40 pm by admin · Permalink
In: Sell My Home Fast · Tagged with: , , ,

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