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Are you Upside-Down on your Mortgage?
Short Sale in Seattle is for a homeowner who has a financial hardship and owes more on the mortgage than the home is worth. The Washington state short sale process can be very tricky and hard to understand. However, if done correctly, it can in fact be the best option and fresh start for you. We will negotiate directly with your banks to get short sale approvals for you. We will market your home and get it sold!
Programs for Short Sale that you could still Financially Benefit from!
If you have a BANK OF AMERICA, CHASE, WELLS FARGO, CITI, OCWEN, you could qualify for a program that would give $2,000 to $5,000 relocation money. If your loan was a WAMU loan that is owned by Chase you could get up to $35,000 participating in a Short Sale.
All of our Professional Short Sale Services are FREE for you!
Unlike a traditional real estate transaction, you do NOT pay us a penny. Your banks will pay all the fees of the real estate sales including closing costs and our real estate commission Only when your home completes a Successful Short Sale.
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Find Short Sales & Foreclosures for FREE!
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What is a Short Sale?
A Seattle short sale is when the homeowner sells their home for less than what it’s owed on their loan, and the lender accepts the amount as the payment in full. (A Bellevue short sale is a sales transaction in which the seller's mortgage lender agrees to accept a payoff of less than the balance due on the loan.)
Why Seattle Short Sales?
The short sale in Washington state happens in Pre-Foreclosure stage. If the short sale is successful, the seller escapes foreclosure and the corresponding hit to their credit report. They only sustain smaller hit on their credit report for any missed payments and the short sale.
Why your Bank gets Financial Benefits by Forgiving you?
Simple. It is Expensive for the lender to foreclosure a home. Some of the lender’s costs could include Legal fees, Insurance, Taxes, Eviction cost, Selling cost, etc. On average, it costs as high as $50,000 per foreclosed property. Their business is Loaning Not, Owning!
Why Short Sales Fail?
There are many reasons why short sales fail, including, but not limited to the following:
- Incomplete Short Sale Package
- No reasonable chance of closing
- Inexperienced Short Sale Listing Agent
- Release of deficiency
- No Hardship
- Junior Liens
- Lender
Short Sales . . . ? Foreclosures . . . ? REOs . . . ?
1. Short Sale : Pre-foreclosure
2. Foreclosure : Public Auction
3. REO (Bank Owned) : Post-foreclosure |
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1. Foreclosure Follows You
You will always to disclose that you have had a foreclosure on any mortgage application as well as many job applications. This can have an adverse affect on your future mortgage rates. This is a credit item that is asked about specifically in credit inquiries. There is no 7 year time limit on this item.
2. Credit Score Negative Impact
Your Credit Score will be lowered by 300+ points. Among with bankruptcy, a foreclosre is one of the most devastating credit issues you can have in realtion to future credit availability.
3. Possibility of Deficiency Judgment
Your lender can seek a deficiency judgment against you and collect any amount they do not recuperate at the bank sale.
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