Short Sales Offer An Alternative to Atlanta Foreclosure
Have you reached the end of your economic rope? Many Atlantans have experienced loss of income and do not have the ability to make mortgage payments. Does this mean foreclosure is inevitable? Maybe not, especially if you are willing to communicate your situation with your lender. Short sales offer an alternative to Atlanta foreclosure.
When overwhelmed with unpaid bills and mortgage payments, the natural tendency is to stick your head in the sand and hope it will all go away. Not going to happen, when you finally pull your head out of the sand you will find all the bills, bill collectors, lenders and banks are standing right next to you ready to collect and make your life miserable. You do have options. You can sell your home as a short sale and have the lender reduce the amount you owe on your loan.
Short sales do require you to communicate with your lender and provide documentation of loss of income or other reason you can’t pay your mortgage payment. You can;t just decide you don’t want to pay the mortgage. You have to be unable to pay. And you have to provide documentation to the lender including bank statements, IRS returns etc.
Once you have contacted your lender, things will go a lot smoother when you list your home with a CDPE (Certified Distressed Property Expert) and give your bank permission to communicate with the Realtor. The bank then starts a line of communication up with the Realtor about the listing, the terms of the sale, the approved price etc. You don’t have to deal with all the details. The bank and real estate agent pick it up from there.
Just making the decision to move forward with a short sale gives many home owners emotional relief. You are carrying around a lot of unnecessary baggage and anxiety because of the unpaid mortgage payments. Give your self a break and start the process of recovery. Thousands of homeowners nationwide have made the same decision and have now put them selves in a position te re establish their credit and bank balances.
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Sally English holds a CDPE certification, is a member of Short Sales Super Stars and has successfully completed many short sales in the metropolitan Atlanta area. Lenders we have encountered include Bank of America, Chase, Sun Trust, Wells Fargo, WaMu, Wachovia and more. Call or text Sally English 404-229-2995