Real Estate Expert
Vitaly Petrov
443-449-9883443-449-9883

Short Sale

edge

What is a Short Sale? A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Recent changes in corporate policy and the Obama administration have also improved the chances of getting a short sale approved.

But to be technical, here’s a more official definition: A homeowner is ‘short’ when the amount owed on his/her property is higher than current market value. A short sale occurs when a negotiation is entered into with the homeowner’s mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer closes on the property, and the property is then ‘sold short’ of the total value of the mortgage.

For homeowners to qualify for a short sale, they must fall into all of the following circumstances:

Financial Hardship– There is a situation causing you to have trouble affording your mortgage.
Monthly Income Shortfall – In other words: “You have more month than money.” A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.
This seems simple enough, but it is a complicated process that takes the expertise of experienced professionals. Together, we can identify all possible options and, when possible, a CDPE can assist you in the quick execution of a short sale transaction.

foreclosure

Help package 2

Vitaly Petrov
Maryland Realtor®
Tristar Realty Inc
Cell : 443-449-9883
eMail: vitalypetrov@outlook.com

Tristar Realty Inc, 5397 Twin Knolls Rd, #14, Columbia, MD 21045 Tel: 410-740-1050

Ellicott City MD Real Estate Agent

Columbia MD Real Estate Agent

Howard County Real Estate Agent

Baltimore County Real Estate Agent

Montgomery Real Estate Agent

Prince George Real Estate Agent

Anne Arundel County Real Estate Agent

Maryland Russian speaking Realtor

Штат Мэриленд русскоязычный риэлтор

Штат Мэриленд русский риэлтор

Штат Мэриленд агент по недвижимости

Maryland Hebrew speaking Realtor

Russian Real Estate Maryland Russian Real Estate

Maryland Russian Real Estate Agent

Russian Realtor Maryland

Russian Maryland

Russian Maryland Columbia MD

Russian Maryland Baltimore MD

Russian Maryland Ellicott City MD

Russian Maryland Howard County MD

Недвижимость в Балтиморе

штат Мэриленд

Мэриленд Недвижимость

Мэриленд Агент по недвижимости

русские в Мэриленд

русские в Мэриленде

Мэриленд недвижимость

мэриленд россия

Maryland ukraine real estate agent

Maryland ukraine realtor

Меріленд Українська мова

Меріленд Агент з нерухомості

Меріленд Україна