Shokoofeh Nowbakht

Short Sale, A Great Option!
January 23, 2010 · · 3 Comments

short saleI have talked to many home owners who are late on their mortgage payments, who are struggling to pay even their everyday expenses. Some have not paid their mortgage in over 6 months. Unfortunately, this is happening more often these days. My advice is, of course, try to modify your loan and save your home. Homeowners have to qualify for the modified loan plan. What if they can’t? What if they can’t even make the mortgage payments on the new lower interest rate? So, why not try to short sale the house? Lenders are becoming more understanding of the short sale situations. They are easier to deal with and get an approval on a short sale. Homeowners will have less effect on their credit score if they do a short sale rather than go through bankruptcy or foreclosure.  A realtor will be able to assist  homeowners with the short sale process.
Good Luck!

Shokoofeh Nowbakht, Realtor
Prudential California Realty
www.shokoo.com