Short Sales in Colorado

A short sale is when a lender is willing to accept less than what is owed against real property and helps the homeowner pay the bank off and avoid foreclosure.

If you are late on your mortgage payments, its better to short sale your property and avoid foreclosure. Lenders are working more now with borrowers faced with financial problems and will discount the payoff of the home. Lenders would prefer to settle with you versus having to foreclose on your home.

As you are attempting to sell your home, keep in mind your lender wants to limit loss on your mortgage loan. It is better for both the home owner and lender to short sale the home versus facing foreclosure. It will limit the loss for both parties. It can cost the lender as much as $30K to $50K to foreclose on a home.

As you face a Short Sale as a seller, you should not have any extra costs as the mortgage holder pays sales costs. These sales costs include commission, title, escrow and approved property repairs. If you are facing a short sale, call us today. We can help you through the short sale process.

When the mortgage company is looking at reasons for financial hardship, below are some of the legitimate reasons:

1. Job Loss
2. Illness impacting ability to work
3. Injury
4. Divorce

Its important to work with someone with short sale experience. Lenders will not approve all short sales. You can pre-qualify for a Short Sale, call us today (303) 840-9252 or emailing us at info@real-estate-denver-colorado.com.

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