A home is considered “short” if it is valued below what is owed on its mortgage.   If an owner/seller does not have the cash to cover the shortage, a sale of the property can still close providing the mortgage company is willing to negotiate a “Short Sale”.  Short sale scenarios are quite common, but successful negotiations to actually close them are not.

Nationally, 3% of all mortgages are in foreclosure and an additional 8% are 30 days or more in arrears (past due). This means that 1 out of 9 homeowners are late on their mortgage by at least 30 days. Unfortunately, 80% of these homeowners will not take action in order to prevent their home from going into foreclosure and will lose their homes. 

As a Realtor, my primary goal is to help people keep their homes. But, if a sale cannot be avoided, I want to help owners sell their home as quickly and smoothly as possible.

I want sellers to know there are options AVAILABLE NOW to help them avoid foreclosure and spare their credit.

This entry was posted on Saturday, September 19th, 2009 at 8:12 pm and is filed under Atlanta Real Estate Investments, Atlanta Short Sales, Foreclosures. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.