GreetingsVirginia.com Today Featured And Explained Short Sale A "Life Saver" For Upside Down Home Owners

September 13, 2010 | September 2010 Bond Updates

Top Rated short sale real estate team in Virginia, Maryland, and Washington DC is featured and explains the process of a short sale.

(1888PressRelease) Many banks today are working with homeowners to avoid foreclosure. They don't want to foreclose on your home if they don't have to; it costs them too much money. Banks are not in the business of owning real estate. A Realtor that specializes in short sales could help you negotiate with your bank to work it out smoothly.

A "short sale" means the sale of a house for less than what the owner still owes on the mortgage. If the lender agrees to a short sale, the rest of the homeowner's debt can be forgiven. Lenders sometimes agree to this procedure in order to take a small loss and avoid the lengthy and costly foreclosure process.

Lenders will be more agreeable to negotiation with homeowners who are unable to keep up with all of their monthly obligations. Some of the reasons for falling behind on their mortgage payment may include sudden change in monthly household income, loss of job, divorce, health issues and more. In case if the home owners have any cash assets, the lender might try to tap those accounts.

Are you confused and stressed about the process of "Short sale"?

The short sale process seems to be confusing and often takes a long time. It is worth the wait to avoid losing your home in foreclosure.

Prepare yourself well in advance to get the ball rolling by following the below steps:

1. Be ready with the required documentation that your bank will require to send them.
2. Find a Realtor that specializes in short sales and disclose all about your property and financial details to them. They will help you prepare the paperwork and guide you through the process.
3. The next stage is to market your property. The better that your home looks, the quicker that it will sell. If you can afford it, spend some money to renovate your home. Painting and doing some major and minor repairs are necessary.
4. Then the actual process of negotiating with the bank. An experienced short sale Realtor will take on this task so that you will not have to.

The process is usually not described as "fast" in most cases, but with the right short sale team working on your behalf, you can be at peace knowing that everything is being handled diligently and with absolute care.

If you are in Virginia, Maryland, or Washington DC and upside down on your mortgage and need to sell your home or facing a foreclosure, the top short sale team can be found by visiting http://greetingsvirginia.com/ or http://greetingsvirginia.com/blog/

Why www.GreetingVirginia.com, www.GreetingsMaryland.com, www.GreetingsDC.com?

The Dan and Traci & Consultants Greetings team with Keller Williams Realty are a professional real estate sales team specializing in short sales in Virginia, short sales in Maryland, and short sales in Washington DC. They are credible, ethical, and outstanding at real estate. They are Certified Distressed Property Experts (CDPE) and Short Sale & Foreclosure Resource certified (SFR) and they have specialized in helping homeowners avoid foreclosure for the last several years.

Dan Rochon says about short sales, "Traci and I are pleased to of helped so many people avoid foreclosure. It is a difficult process that takes our entire team to successfully complete, but the end results of helping people is worth it."

Dan and Traci & Consultants believe in applying strengths; collectively, they help their clients better as a group than they could individually. This benefits you because it allows for them to fully serve you. They are up to date on new laws and provisions and knowledgeable about our challenging real estate market. With their short sale agents, you will get an advocate from start to finish and for the future.

Is short really a life saver?!

With a short sale, you will avoid foreclosure and all of the negative consequences associated. Often in a short sale the lender will forgive the entire amount of difference that you owe. With a foreclosure, the lender will not forgive any deficiency and be able to pursue you for the difference. A homeowner who loses a home to a foreclosure is ineligible for a Fannie Mae backed loan for more than 5 years and a homeowner who completes a short sale will be eligible to buy a home in two years. A foreclosure can have a detrimental impact on security clearances, current employment, and future employment while a short sale will not be a challenge to these. With the government backed Home Affordable Foreclosures Alternatives program (HAFA), the government is encouraging short sales as an alternative to foreclosure by paying participating banks incentives to approve a short sale and home owners relocation assistance. A foreclosure will wreak havoc on your credit score, while a short sale will have much less negative impact.

Grab the chance of building your life in a new fashion. A short sale save your financial life and give you a new beginning.

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