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Michelle Thompson 1111 Church Street Covington, GA 30014 mthompson@agentsrealty.com |
SHORT SALE OPTIONIf you are facing foreclosure and can no longer afford your home, you may qualify for a Short Sale—even if you don’t think you can (or haven’t been able to) sell your home. What is a Short Sale? A Short Sale, also known as a pre-foreclosure sale, is when you sell your home for less than the balance remaining on your mortgage. If your mortgage company agrees to a short sale, you can sell your home and pay off all (or a portion of) your mortgage balance with the proceeds. You may also be eligible for the government’s Home Affordable Foreclosure Alternatives Program (HAFA) which offers short sale and DIL options. A short sale is an alternative to foreclosure and may be an option if: · You are ineligible to refinance or modify your mortgage · You are facing a long-term hardship · You are behind on your mortgage payments · You owe more on your home than it’s worth · You have not been able to sell your home at a price that covers what you still owe on your mortgage · You can no longer afford your home and are ready or need to leave What are the benefits of a Short Sale? · Eliminate or reduce your mortgage debt · Avoid the negative impact of a foreclosure · Start repairing your credit sooner than if you went through a foreclosure
What is the process for a Short Sale? If you qualify for this option, the process is similar to a normal real estate sales transaction. You will work with a real estate agent to market and sell your home. However, your mortgage company will also be working with you and your real estate agent every step of the way to:· set the sale price (based on current market value), · collect financial information and negotiate with other lien holders (i.e., your second mortgage company) if applicable, · review acceptable offers, · agree to the terms of the sale once a buyer is in place, and · work with the buyer’s real estate agent and mortgage lender to finalize the sale. In some cases, you may be eligible to receive relocation assistance to use toward your moving expenses and to make the transition to new housing easier. A Short Sale may take up to 120 days, but this could be shorter or longer depending upon your specific situation. If you are unable to sell your home, you may be able to transfer the ownership of your property to the owner of your mortgage (also called a Deed-in-Lieu of Foreclosure). Call me to discuss in further detail.
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ABOUT ME As a dedicated, young, professional Realtor, I have the knowledge and commitment to provide you with the level of service you deserve. Raised in Newton County and residing here, I know the area like few others. The sale of your current home or the purchase of your new home is of utmost importance to me. I am dedicated to serving my clients with enthusiasm, experience and meticulous attention to detail for a Smooth Move! A full time Realtor selling in Newton, Rockdale, Walton, Henry, Gwinnett and Morgan counties, my primary goal has been to Exceed My Clients Expectations, earning your confidence and loyalty. In this challenging market, it is imperative that clients use a professional experienced Realtor with great negotiating skills. You have my promise of personal, exceptional service on your behalf. You will have the benefit not only of my expertise and knowledge, but also the tools which ReMax provides it's agents to aid in the level of service I can provide for you. For professional assistance and personal attention with your real estate transaction, call Michelle Thompson. Experience Member, East Metro Board of REALTORS® Member, National Association of REALTORS® |
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