"What is a short sale?"    Donna Parker 702-812-6929       donna.parker@cbvegas.com
If you find yourself in a position where you owe more than your home is worth and you need to sell, a short sale may be an option.

Simply put, a short sale is a real estate transaction where the homeowner owes their lender more than what their property is worth and they need to sell. In a short sale, the lender must approve and accept less than what they are owed as full payoff (this means they may settle for $200,000, even if you currently owe them $500,000...even if the loss is hundreds of thousands of dollars).

Are you facing a financial hardship that you know will decrease or has already decreased your income? 

Are you getting behind on your mortgage and you're not sure if you can catch up?

Has your mortgage company issued a "Notice of Default" for your property?

Or do you just need to sell quickly but your home is worth less now than when you bought it?

Do you see yourself better of financially if you are financially free of the debt from the mortgage on this property? And do you see yourself repariing your credit in the next 2-5 years by selling your home?

Have you wondered what legal ramifications and financial issues you might face in the future depending on the decision you make to allow yourself to fall into foreclosure or to do a short sale on your property?

If you are facing any of the situations above, and you think a short sale might be your best option, then read on.

Don't worry.  It's not your fault...

You gotta remember, we've all had our ups and downs in life and a lot of other good people are also in the same tough spot as you. Life seems scary when you're facing the reality of foreclosure...  

We all agree that we're in the middle of a national mortgage crisis and the harsh reality is that now your home is worth less than when you bought it and the value is still declining sharply.

My company, Coldwell Banker Premier Realty, has developed an affiliation with a top and very reputable legal team in Las Vegas that will advise you which decision is the best decision for YOUR situation...they will be able to assist in negotiating the deficient amount (the difference between what the property is sold for vs what is owed on it) along with credit reporting issues...this initial consultation is only $200. There are many bankruptcy attorneys giving free consultations, but they are there to determine if you should file bankruptcy, and do not advise on any other options. 

I would like more information about doing a short sale