Short Sale or Foreclosure . . . Which one is right for you?
Updated: Jan 16, 2022
A short sale is an alternative solution to foreclosure. Is it right for you? Lets discuss what a short sale is. A Short Sale is when the Mortgage company that holds your mortgage allows you to sell your home for less than what it is owed.
For Example: You owe $400,000 for your home, but all of the similar homes are selling for $300,000. We get a contract for $300,000 and ask the bank to accept the $300,000 and forgive the $100,000 . This means no judgment for you for the balance and we ask for the mortgage company to forgive the balance.
Give us a call to see if a short sale is right for you!
STELLA BARBOUR Principal Broker Nova Brokers, LLC 1483 Chain Bridge Road Suite 103 McLean, Virginia 22101-5703 571-814-3002 OFFICE 703-999-6104 CELL 571-281-2866 FAX