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What is a Short Sale?
It is an alternative to foreclosure.... A short sale is an upfront agreement between the homeowner and their mortgage lender to accept market value for a property, which is lower than the homeowner's mortgage balance.
It's a win/win situation for the homeowner because it's not a foreclosure. Its a graceful exit from a home that is no longer affordable. It also saves the mortgage lender expensive foreclosure court costs and attorney fees.
A homeowner owes $250,000.00
The property market value is $150,000.00
The homeowner is short $100,000.00
In this situation, the bank may agree to allow the homeowner to sell the property for the market value.
Common reason why the homeowners need to short sale
$0 TO SELL PROGRAM
Are you a homeowner who needs to sell, but your home is worth less than what you owe? Nextpointe will become your advocate and help you to sell your home. We will work with your lender to get a short sale approved. How much will this cost you? $0! Most times we can negotiate with your lender to pay our fee and waive any monies, late fees or delinquent payments that you owe.
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