My New Outside Blog: Vernon CT Short Sale Agent – What Is a Short Sale

Vernon CT Short Sale Agent – What Is a Short Sale

Vernon CT Short Sale Agent – What Is a Short Sale

What is a short sale is a question that Vernon CT Short Sale agents are getting a lot these days.  Short Sales are defined as the sale of real estate where the proceeds from selling the property will fall short of the amount owed. A simple example of this would be a homeowner has a mortgage of $250,000 and the current market value is only $200,000. In order for the seller to move on and sell the home the bank would have to o.k. the loss. So why in the world would the bank do this? It’s simply a good alternative to foreclosure for the bank. The foreclosure process can be very time consuming and expensive for banks and they are not in the business of property management so very often they will opt to do a short sale.  The current market has a large inventory of REO’s (Real Estate Owned by the bank) and short sales. It’s important that people know the major differences and there is no one better to ask than a Vernon CT short sale agent.

With the current economic mess many homeowners in the Vernon CT area have found that they can no longer afford their mortgages and many will simply just stop paying.  There is a better way and it’s called a Short Sale.  Many of these homeowners have tried to restructure their mortgage only to be turned down or have restructured and can’t even afford that. Hard times have fallen on countless homeowners around Vernon CT and a short sale can help the owner move on, avoid foreclosure, and minimize the impact to their credit score.  Call Jeremy Joslin to help answer your short sale questions.

Short Sales can be very challenging. When it’s time to choose a short sale agent in the Vernon CT area it’s very important that you choose to work with an agent who has experience and training to work short sales. Hire someone that has a team of professionals ready to assist you in this process. Call an agent that’s committed to getting the deal closed and helping you move on with your life. Call Jeremy Joslin at (860)748-9381 your Vernon CT short sale agent.

 

Comment balloon 2 commentsJeremy Joslin • October 06 2011 10:46PM

Comments

Jeremy, you sure are right about short sales being challenging.  The banks seem to be getting a bit better at processing them, let's hope the improvement continues.

Posted by Kathy Stoltman, Ventura County Real Estate Consultant 805-746-1793 (Rockwood Realty) about 7 years ago

Jeremy, you are right,seller required an agent with short sale experienced, knowledge and patience to handle the transaction. 

Posted by Kwee Huset, Venice Florida Homes For Sale (Kwee Huset Realty) about 7 years ago

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