Can I put my home up for short sale prior to foreclo...

Submitted by merritt6 from NC - 07/12/2009 - 4:50am

Can I put my home up for short sale prior to foreclosure?

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Submitted by MariaTownCounty - 07/29/2009 - 4:40pm

If you have experienced a hardship that has made it difficult or impossible for you to pay your mortgage, you could qualify for a short sale.  A hardship could be that you're interest rate adjusted and you can't keep up with payments, a job transfer, death, illness, divorce, etc.

Submitted by bobinspira - 09/02/2009 - 12:12am

Merritt6 - You MUST put your home for sale before foreclosure in order to complete a short sale! After the foreclosure it is too late and the bank owns your home. Ideally, sooner is better then later because there are more options and a better chance that you will have a successful short sale.

You should work with an agent expericed with short sale (completed 10+) - I am a Certified Distressed Property Expert in the Advanced program and can recommend an agent in your area. Simply send me an e-mail with your information - city/state, hardship, lenders, how many months you are late (if any), and if your loan was used to purchase your home. We'll put you in contact with someone who can help!!!

BOB - MBA, CDPE
bob@inspiragroup.com

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