For some homeowners in distress, a short sale may be 
   a better answer than foreclosure
   A short sale may be a better option for you and your credit rating than foreclosure. You may be a good candidate for a short sale if:

   *You face a financial hardship that makes you unable to pay your mortgage. In a lender's eyes, legitimate financial hardships include loss of a job, medical emergencies, divorce, bankruptcy and death. Be prepared to prove your hardship.

*You owe more on your home than it is worth. If home prices in your surrounding area have plummeted, a comparative market analysis prepared by a professional REALTOR may show that your home is worth less than the unpaid balance on your mortgage.

*You have no assets, and little or no equity in your home. Savings, stocks, IRAs, and other real estate holdings are all considered assets. If you have any of these,

the lender may still agree to a short sale, but possibly with the condition that you pay back the difference between what is owed on your loan and the agreed-to

sale price. If that is the case, the Haddad Team will help you negotiate the best terms possible.

The best way to determine if a short sale is the right choice for you, a Seller, is to talk to a real estate professional. An experienced agent can explain the details of a
short sale and will work on your behalf to make the process go as smoothly as possible.

 

As a Buyer, you may want to take advantage of this market to get an exceptional bargain priced property. Remember, a Short Sale requires third party approval of the offer. The banks and other lenders have stacks of these properties and can take a long time to respond. Patience is a key factor. Having an experienced realtor
to help the process along is the other!