Short Sales are Getting Easier
Beginning April 5, the Obama administration will encourage delinquent borrowers to avoid foreclosure and instead give up their homes in short sales by streamlining the process.
The program will offer a cash payment to the home owner, as well as to the servicer and second-lien holder; and protect borrowers from future lender lawsuits for the unpaid mortgage balance.
To curtail fraud, lenders will have to consult real estate practitioners to assess home value and minimum acceptable offer; they then must accept any offer that is equal to or higher than that.
If you aren't sure what a Short Sale is or means, and are having trouble keeping your mortgage current, contact me right away. Visit the Bank-Owned page on my web site for more short sale information. I'm a Certified Distressed Property Expert and can help you avoid foreclosure.
Sherry Armstrong
386-679-3191
yourkeytothebeach@gmail.com
www.daytonabeachscene.com
www.ormondbeachscene.com