An Anchorage short sale can be an excellent solution for Anchorage Alaska Home Owners who needs to sell and who owe more on their Anchorage home than than it is worth.
In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become more negotiable when it comes to these transactions. The government is also trying to aid Anchorage home owners with the HAFA program for Short Sales. Therefore, the recent changes in corporate policy and the current administration have also improved the chances of getting a short sale approved.
But to be technical, here’s a more official definition:
* An Anchorage home owner is ‘short’ when the amount owed on his/her property is higher than current market value.
* A short sale occurs when a negotiation is entered into with the Anchorage home owner’s mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer closes on the property, and the property is then ‘sold short’ of the total value of the mortgage.
For homeowners to qualify for a short sale, they must have a hardship which falls into any or all of the following circumstances:
- Financial Hardship
- Medical Hardship
- Monthly Income Shortfall – In other words: “You have more month than money.” A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
- Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.
This seems simple enough, however, Short Sales are a complicated process that takes the expertise of experienced professionals. I hold the CDPE® Designation and have experience in actively selling several. I can readily identify all possible options and, when possible, assist in the quick execution of a short sale transaction. I have worked successfully with many banks, which include: Bank of America, Wachovia, Wells Fargo, Aurora , Litton, Amtrust, Citimortgage,Chase, Provident Funding, just to name a few.
If you have questions or feel you may qualify for an Anchorage Alaska short sale, please contact me for a free consultation at (907) 903-1221.
Understanding your options now could mean all the difference in the world.
Need to ease the pain of an unstable and confusing real estate market?
A Certified Distressed Property Expert® (CDPE) has a thorough understanding of complex issues in today’s turbulent real estate industry and knowledge of foreclosure avoidance options available to homeowners. CDPEs can provide solutions, specifically short sales, for homeowners facing market hardships.
Homeowners regularly proceed without guidance of any kind through the often financially and emotionally devastating prospect of foreclosure. Speaking with a well-informed, licensed real estate professional is the best course of action for a homeowner in distress. Through comprehensive training and experience, CDPEs have the tools to help homeowners find the best solutions for their unique situations and to avoid foreclosure through the efficient execution of a short sale.
Living through financial difficulties poses a challenge for any family, so why make the process of finding a qualified real estate professional difficult too? Select an agent with the CDPE Designation to ensure you have a trained professional to address your specific needs. For more information, contact a CDPE in your area.
CDPEs don’t merely assist in selling properties, they serve and help save their clients in need