A growing percentage of Homes for Sale in Bend and Redmond are Short Sales. If you’re underwater on your Central Oregon Mortgage. A short sale may be the option to help you avoid foreclosure. The first step to short selling your home is to gather information. Contact the Adams Team at Fred Real Estate Group for a free no pressure consultation to learn more about short sales as an option for your Central Oregon home.
Central Oregon Short Sale Basics
1. What is a short Sale?
A short sale is selling your home for less than you owe on your mortgage. If a loan modification is not an option then considering a short sale may be a better alternative than bankruptcy or foreclosure. It may also be less of a hit to your credit. Most individual who successfully short sale their home are able to reapply for a mortgage in as little as 18 months.
2. Who should I contact about short selling my home?
Real Estate Attorney -when short selling a home every home owner’s situation is different. In many cases the difference between the amount owed and amount forgiven will no longer be a liability when the home is sold. However, there is no guarantee that a lender who accepts a short sale will not legally pursue a judgment against the seller. Seek the advice of a qualified Real Estate Attorney to determine whether or not your loan qualifies for a deficiency judgment.
Tax Accountant – Whether or not the debt forgiven by a short sale will become a tax liability for you depends on many factors. Your tax accountant can review your financial situation to determine if a short sale is a foreclosure option you should consider based on your financial and tax liability.
Real Estate Agent – a qualified real estate agent can guide you through the process for short selling your home. We at Fred Real Estate Group understand this is not an easy decision or process. It is our goal to make your short sale process as painless as possible .
3. Why list your Short Sale with The Adams Team at Fred Real Estate Group?
With Fred Real Estate Group you’ll have a team of agents working on your short sale. With competitive pricing and aggressive online marketing your team of real estate agents along with a professional short sale negotiator will dedicate their to getting your home SOLD.
4. What is a HAFA Short Sale?
You may have heard of the HAFA Short Sale program. The HAFA short sale program is a government program designed to help the homeowner speed up the short sale process by offering a financial incentive to both the homeowners and the bank to speed up the short sale process.
Read more about the HAFA short sale program and how it can help your short sale your Bend home in these posts:
Understanding HAFA Short Sales and how it can help Central Oregon home owners Part 1 – What is HAFA? More information on the specifics of the HAFA short sale program and how it can help Bend homeowners.
Central Oregon Home Owners Understanding HAFA Part 2 – Am I Eligible for HAFA? Additional information on how to determine if you’re Bend, OR home / mortgage qualifies for the HAFA short sale program.
Contact Kryste Adams at Fred Real Estate Group for a confidential consultation or more information to determine if a short sale is the right option for your Bend home.
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