“Requests from homeowners who have mortgage payment problems has resulted in many lenders finding themselves now swamped by requests for a short sale approval. Retaining short sale agents may make a big difference in the outcome.”
Blaine, MN. (PRWEB) November 16, 2012
“What is the best answer when considering a short sale versus a foreclosure,” Kris Lindahl the experienced Litton short sale agent says that many homeowners want to know. “That is why I published information to provide answers to this commonly asked question,” Kris adds.
“The loss of all of a homeowners ownership rights of a property is what foreclosure eventually can result in,” Kris Lindahl explains. “Many homeowners faced with foreclosure do not realize what to do, and they delay too long a time prior to trying to halt the proceedings. Homeowners should start thinking about a short sale versus a foreclosure as soon as possible,” Kris Lindahl says.
“The person who can prevent a home foreclosure is a short sale agent,” Kris Lindahl says. "A set time framework will be followed with a foreclosure on homes. When three months have elapsed of unpaid mortgage payments, a bank produces a Demand Letter or Notice to Accelerate which requires the loan be brought up to date within 30 days. After 120 days of nonpayment, the matter is sent to the lenders attorneys. Next the sheriffs sale is scheduled, and the sheriffs sale can happen as quickly as two or three months," Kris Lindahl explains.
"In considering a short sale versus a foreclosure, homeowners should know that after the sheriffs sale, in what is called the redemption period, the person who defaulted might be able to regain the home through paying every loan payment that is due, in addition to any fees produced during the proceedings to foreclose upon the house. That is a big consideration in looking at a short sale versus a foreclosure," explains Kris Lindahl.
Kris Lindahl says, “What often leads to weighing a short sale versus a foreclosure, is that keeping up with regular mortgage loan responsibilities became a financial issue. A short sale agent is ready to help individuals.” Kris continues to explain, “Requests from homeowners who have mortgage payment problems has resulted in many lenders finding themselves now swamped by requests for a short sale approval. Retaining short sale agents may make a big difference in the outcome. When comparing a short sale versus a foreclosure, consider that a mortgage loan can be paid up for less than the money that is due with a short sale proceeding."
Call the experienced Litton Short Sale Agent Kris Lindahl at (877) 371-1733 for more short sale information. Download a copy of the “Homeowners Guide To Short Sales” eBook at the HomeownersGuideToShortSales.com website.