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Learn How a Short Sale Can Help You Avoid Foreclosure

Feeling like there is no other option but foreclosure can be an overwhelming experience. Know that you are not alone. Thousands of homeowners in Nevada are facing the same challenges as you every single day. Now more than ever before there are solutions.

You need help, guidance, and someone who understands the difficult choices you are facing about your home, your family, and your life. Quite often a homeowner facing a foreclosure thinks they have to go through the process alone, forced into a daunting situation caused by unforeseen circumstances beyond their control. Facing damage to your credit, and the possibility of not being able to purchase another home for 10 years can be a tough future to face, but by tapping into the expertise of a knowledgeable real estate agent, there are options available for you and you’ve come to the right place.

We provide you with information about how to avoid a foreclosure, explain the effects it can have on you and your family, and offer other options that may be available to you. This includes a short sale, and we can help you determine if you qualify.

Please know that all communication will be strictly confidential.

Short Sales Explained

  • A homeowner is 'short' when the amount owed on his/her property is higher than current market value.
  • A short sale occurs when a negotiation is entered into with the homeowner's mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer closes on the property, and the property is then 'sold short' of the total value of the mortgage.

For homeowners to qualify for a short sale, they must fall into any or all of the following circumstances:

  • Financial Hardship – There is a situation causing you to have trouble affording your mortgage.
  • Monthly Income Shortfall – In other words: "You have more month than money." A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
  • Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.

Check out more information on the links below:

Short Sale vs. Foreclosure – PDF Link
Step by Step Foreclosure Process – PDF Link
Making Home Affordable – HAFA Program – PDF Link

Please Contact Us today for your confidential analysis

Randy Maher
Key Realty
Las Vegas Native
Office: 702-560-5904
Cell: 702-285-2061
Fax 702-446-0316

All information is deemed accurate and reliable however it is not guaranteed
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