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Property is Worth Less Than The Balance, Mortgage Payments Too High, Short Selling is The Only Option!
With the depreciating real estate values most people dont have the option of refinancing anymore. If you are stuck in an unaffordable mortgage payment where it makes more sense to sell the property and purchase a less expensive home or rent, short sales are the best way to go about this. Why short sale rather then foreclose? Short sales affect your credit much less then a foreclosure, a foreclosure will completely destroy a borrowers credit profile and score. A foreclosure will also most likely result in a "Deficiency Judgement", which is a judgement placed on the homeowner for the amount the lender loses by having to sell your property at a foreclosure auction.
Let us evaluate your situation, negotiate with your lender, find a buyer, and get you out of the situation you are in!

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Short Sale Example |
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Current Situation |
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Estimated Value |
Mortgage Balance |
Sales Price |
Cash to Close |
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$350,000 |
$412,000 |
$420,000 |
$62,000 |
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Short Sale Situation |
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Estimated Value |
Adjusted Mortgage Balance |
Sales Price |
Cash to Close |
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$350,000 |
$308,000 |
$315,000 |
$0.00 | Assumptions
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