Short Sales for Maryland DC and VA

 When should a short sale be an  option for a seller?

The obvious reason, a foreclosure can have a devastating impact on someone’s credit report that will have a lasting effect for years to come. A short sale unlike a foreclosure is typically reported on a credit report as a debt that is “settled for an amount less than what is due”. Of course that will cause your credit score to drop but. .  it will be nowhere near as bad  as the reporting of a foreclosure.

The question to ask now is  “Why would a lender agree to a short sale?”

The answer is amazingly very simple: Lenders do not want to own houses. Lenders are in the business of loaning money, not in the business of owning houses.  Nowadays, banks are more agreeable to take a short sale to the closing table than foreclosing the property. President Obama has finally revealed his plan to help these banks . .and frankly I believe they were expecting a lot more that what was offered to them. Now they have to deal with these bad loans one way or another. . a short sale suddenly has become an easy solution.

For you. . it means that you can deflect a bad foreclosure on your record by doing a short sale

Read more about: “Is a Short Sale an Option For Me?”

A place  to do Short Sales in Maryland, DC and Virginia

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