A Short Sale in Virginia is the
process through which your mortgage company agrees to settle for less than what
is owed to them. They do this as an alternative to the expensive and time
consuming process of foreclosure. Each mortgage company has their own set of
processes through which they decide whether or not to accept a Virginia short
sale, and while there are many similarities, each has its own requirements for
approval. As a third party mediator, we have a distinct advantage
in negotiating with your mortgage
Advantages of a Short Sale in Virginia:
§ Sell Your Northern VA Home Quickly and Easily For Top Market
§ Pay Absolutely No Commissions & No Closing Costs.
§ Avoid Foreclosure & Bankruptcy.
§ Lessens The Impact On Your Credit.
§ Walk Away From Your Home With No Debt
And No Tax Consequences.
Does Your House Qualify For A Short Sale?
If your equity has disappeared, your
interest rate has readjusted higher, or if you cannot afford the payments, then
your house stands a good chance of being eligible for a “short sale.”
Many Northern Virginia homeowners have taken this route with solid results.
Will You Owe The Bank Any Money Afterwards?
Many of our Northern Virginia short sale clients pay absolutely
nothing to sell their home, and walk away owing nothing to their lender(s).
How Is Our Credit Affected?
A short sale does create a negative
impact on your credit. However, it has a lesser impact to your scoring compared
to a bankruptcy or foreclosure. It is treated by your lender as a “settlement
of a debt” as opposed to a foreclosure or a bankruptcy.
You will not have the stain of a
foreclosure or a bankruptcy on your credit, and instead of having to wait up to
7 years to buy another home, you might be able to get a new loan on a house as
quick as 24 months after the effective short sale (timing is different for
each circumstance and person; this is the earliest you might be able to borrow
monies for a new mortgage, and some people will have to wait longer).
Do I Need To Be Behind On My Payments?
No. This is a common misconception
for a Short Sale in Virginia. You do not need to be behind on your payments or
have been late on a payment to do a short sale, although the lenders are more
motivated to do the short sale if you are not making payments.
Cost To Hire A Short Sale In Virginia Specialist?
Here’s the good news! Generally
speaking, your mortgage company will actually pay our fees (real estate
brokerage fees) to assist you with your short sale in Virginia. Nearly 99% of
my clients have had no out of pocket expenses. The lender pays all closing
costs, escrow fees, commissions etc. The lender may also pay any outstanding
There are no upfront fees or any cost to you
for my services, call today for a confidential consultation to see if this may
be the solution for you.
Ready to take the next step?
Call us today for your FREE No Commitment, No Obligation Consultation and learn what your options are.