You can't get solid and accurate information on short sales unless you talk to an agent who is a short sale expert, make sure the agent has the CDPE certified distressed property expert designation.
We have been involved in hundreds of short sale transaction, so we know what we are doing. But, that doesn't mean we know everything. This industry is constantly changing every day and we are always in contact with the lenders to keep up with the changes.
Anyways, this article said that a lender will not consider a short sale if there are any liens on the property. I know this is not true, because I have sold several short sales with liens on them.
We do short sales with two mortgages all the time. A second mortgage is simply a lien. The key is that the lien has to agree to accept what the first mortgage is willing to pay them.
We have even sold short sales that had three liens, that were not mortgage liens and been successful in getting two partial lien releases and negotiating the last lien in the short sale transaction, and this was not the seller's primary home and the remaining balance was fully released and the seller was not asked to pay anything or sign a promissory note.
This is one of many short sales we have sold that have had liens and on them. Don't let inaccurate information stop you from short selling your home. Thinking about a short sale?
I can help you short sale your property and get back on your feet. Fill in the contact box to the right or send me an e-mail at phillis@txhomerealty.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (214) 650-5536
Thinking about a loan modification? We help with loan modifications for free fill in the contact form on the right or email me at phillis@txhomerealty.com.
Thanks for reading this, Phillis Nealy.
Phillis is a Real Estate Agent at The Texas Group Realtors
Phone: (214) 650-5536. :phillis@txhomerealty.com
A Realty company with Service as Big as Texas
View My homes for sale at "http://www.txhomerealty.com
This blog is intended for information purposes and not legal advice if you need legal information please consult an attorney.
Give yourself financial freedom by calling the expert in the business. I have a proven track record of success with short sales. I am the short sale queen of Texas with the knowledge, experience, training, and team to keep your home out of foreclosure.
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