NBC Realty’s Christopher Zajko Specializes in Short Sales.
You may ask What a Short Sale is.
A Short Sale is basically when you sell your home for less than you owe and the lender does not require you to pay back the difference. This is a win-win situation for all involved since it is costly for the bank to foreclose on your loan so they usually will accept less than the loan amount and pay most of the sellers closing costs as long as you have a hardship you will qualify. You as the seller win also since you will not have a foreclosure on your credit report and your credit score will be higher than if you went through the foreclosure.
You can also repair your credit faster than if you had a foreclosure on your credit report. Your credit score will take a hit of about 40 - 60 points with a short sale but a Foreclosure will take a 100-150 point hit This means that you could possibly be back into a purchasing position within one year instead of a Foreclosure that follows you for 7-10 years.
You may ask what is a hardship.
A hardship is anything that you can explain on why you cannot make your full monthly mortgage payment that’s justified. A few examples of justified hardships are: Unemployment, Reduced income, Business failure, Health issues, Death of spouse, Divorce or separation, Medical bills, or anything else that prevents you from making a full mortgage payment.
Most realtors do short sales but not all are successful. It takes s a team of professionals to make it happen. The success rate of short sales in these troubling times is better when you have experienced professionals on your side. Knowing when to use mitigation services, Lawyers. Appraisers and home inspectors is what Christopher does best. If you have multiple liens against your property it will take longer since both lenders will want something but it can be successful with the right team.
Christopher Zajko’s Short Sale Service is FREE to you; the lender covers all the costs involved. So do not be afraid to ask questions or talk to your lender we are all here to help solve this situation so call or email myself and let’s get you to worry less about your bills and more on what we can do you get you less stress and more happiness in these stressful times in this economy.