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Short Sale

If you’re facing foreclosure, there may be options you haven’t yet considered. Sometimes losing your home is unavoidable, but there are ways of giving up your home that still allow you to avoid foreclosure. A short sale is an option in which you sell your home before it is foreclosed for less than it is worth. Doing this helps you keep the word “foreclosure” off of your credit report, making it much easier to go on to buy a new home in the future.

Lenders and Mortgage Short Sales

Short sales have many benefits for homeowners, but they are not always the simplest transactions. Mortgage short sales need to be agreed upon by both the homeowner and the lender. Short sales are beneficial for lenders because they help the lender avoid the heavy fees involved in carrying out a foreclosure. However, short sales leave the lender with less than they are owed. Because of this fact,lenders will often try to avoid short sales and will even put stipulations in mortgages to avoid going through these types of transactions. For some people, a short sale is a much better option than ,foreclosure. If you would like to learn more about short sales or foreclosures, contact LawyerASAP today and set up a free consultation by calling ,(844) 330-2727. During your consultation we can review your mortgage history, understand your long-term goals and provide you with the information you need to make the right decision.

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