Short Sales Homes Bergen County, NJ
Short saleWhen a house is selling for a price, which is less than the balance owed to the lender. The estimated market value of the property is less in the current economy and the lender agrees to sell it for that amount. The banks are willing to suffer the loss. They would like to sell the house for a realistic current market value when they realize that home owners can no longer afford to keep the mortgage payments current. the lenders, in many cases, will agree NOT TO come after you for the price difference (as oppose to foreclosure that will involve ‘deficiency judgment’ for the money difference and will be owed for the next 20 years). Not only that. Banks are insured for a big fraction of the loss.
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Short Sale For The Home Owner
If you are facing financial difficulties these days, you are one of many people that are suffering from the slow economy. The income per household has gone down. Unemployment has gone up, and when finding a job, it is for less than the previous pay. There is less money in the market and it affects its buying power.
This new reality forces the home prices to go down. And they do.
- A fundamental real estate concept is that the monetary value of property A is equal to a comparable alternative B value. meaning that even if you sell the house for less than You paid for it, you can still buy an alternative home of a similar style/size, for the same relatively low price.
- It is easier to upgrade your life style when the housing market is down, since better properties will sell for a lot less.
- The slow economy influence service providers to fight harder for business. this will help you with negotiating better prices with construction and home improvement services.
Don’t go bankruptcy!
Don’t get foreclosure proceedings!
Foreclosure is bad for your future.
There are many investors that are looking for good opportunities. Accept the new reality and find your financial options.
Maybe it’s not too bad. Let us negotiate with the bank for the best option to take this encumbers off of your life.
And you will be able to go to a new way with minimal damages.
Let’s find a realistic value to your house and try to get you off this rock that is hanging on your neck. Contact Us >>
For Homes for sale around Elmwood Park, Saddle Brook, Hasbrouck Heights & Lodi, Bergen County - NJ / New Jersey Click Here >>