|
In case you are facing foreclosure like millions of other Americans, you may consider the various benefits of having a short sale. If you do not know what this kind of a sale is, it essentially means selling your house to a private buyer in a short notice without letting the bank take your home via foreclosure. The basic concept of this procedure is a real estate sale where the money acquired from selling the property is less than the debt balance due to liens against the real estate. This sale process is a choice when the property owner is unable to repay the full amount of the lien and when the lien holder agrees to release the lien and accept a lesser amount than the debt amount. This procedure is chosen over foreclosure because it cancels the additional fees of the foreclosure and therefore saves the cost for both the borrower and the lender. If you are considering a short sale of your real estate, then you have several we buy houses companies that can bring that into effect. The cash for houses companies pay you cash for fast sale of your property. There are several benefits of this process. For example, your mortgage debt on the house may be erased in most cases. Yes, you get to lose your house, but you also do not have to bear the burden of having an outstanding debt on your property. Your debt amount may be relieved, if your lender is Freddie Mac, Fannie Mae, USDA, FHA and/or VA as their policies state that yours debt would be erased completely, as that has been put into writing in their policies. You should remember that we are talking here about the deficiency debt that is left back when you have sold your house and still you are unable to repay in full the debt that you owe to the lender. Another benefit that a we buy houses company offers to you is that you have to incur no additional expenditure for selling your home. All the expenses like the attorney fees, title insurance, agent commissions and back taxes are paid by your lender. It should also be taken into account that in case of such kind of a sale, the property is sold very fast, and without the humiliation of a foreclosure. You can perhaps sleep easier at night knowing who has purchased your property in the sale. Most importantly, due to a short sale your credit score suffers much less damage than it would be the case in case you had to let go your house in foreclosure. Most importantly, the credit score rebounds much quickly in case of such a sale. You will also have less debt on your credit score. Within a few years your credit score may be back to normal and you can buy yourself a new house. A great way to avoid foreclosure is to sell property to cash for houses companies. We buy houses companies are a great help to homeowners who want to avoid a foreclosure. www.capitalareahomebuyers.com is cash for houses Company that you can trust.
Related Articles -
We buy houses, cash for houses,
|
