New statistics show that 1 in 7 homeowners are facing difficulty paying thier mortgage.  Homeowners facing these issues often wonder how they can afford to get help.    I am here to tell you that you can get the help you need from an experienced short sale real estate agent and most, if not all, of the costs will be deducted from what is recieved from the sale.  There is no need to pay a short sale company or attorney to faciliate a short sale for you.  In most cases your lender will agree to pay all the typical seller closing costs and the comission to the agents as part of the short sale approval.  In most short sales the homeowner is not responsible for these costs and in turn is not allowed to recieve any proceeds from the sale.  The key is making sure you are working with an experienced short sale real estate agent. 

Does this mean that homeowners are completely off the hook and won’t have any costs?  No, in some cases depending on your financial situation the lender may ask the homeowner to contribute to the loss with a cash contribution or promissory note.  An experienced short sale real estate agent can assist you in minimizing these and working on a win-win solution for both the homeowner and the lender.  In some cases the cash contribution or promissory note can be the key to having the lender release the homeowner from any future liability.

How can you afford not to do a short sale?  When the alternative is foreclosure which can be devastaing to your credit, your future ability to purchase a home again, and result in larger tax consequences – how could you afford not to consider a short sale?

If you are a homeowner facing difficulties making your mortgage payment, consult an experienced short sale agent as soon as possible.