Know The Basics For A Short Sale

Okay so your considering a short sale and have thought about a lot of things that you have heard. But know the basics for doing a short like the following:

If your loan is an FHA or VA you must be atleast 31 days behind on your mortgage.  If you have a conventional loan and you are less than 60 days delinquent then you may only qualify for HAFA through extreme  financial situations.  So basically if you are not 31 days delinquent and have an FHA/VA loan or atleast 60 days delinquent on a conventional loan then you most likely do not qualify for any of the programs that are available for a cooperative short sale.

Of course there are other things that matter but this one has been a big factor lately so many people want to do a short sale but are not behind.  With that being said do you have to be delinquent to do a short sale, the answer is NO you dont.  Most lenders have their own in house short sale program but get the facts of what is allowed and acceptable and also an in house short sale does not give you the 120 days to sell without threat of foreclosure like the HAFA or The Approval to Participate with HUD so you are open to foreclosure, it is more difficult to get any closing cost help for buyers but not impossible.  I know all of this is over the top but that is why I am here Phillis Nealy your Texas Short Sale Queen contact me using the box to the right or call me now at 214-650-5536 and my email is phillis@txhomerealty.com. I am waiting to assist you with financial freedom from the burden of struggling to pay a mortgage you cannot afford.

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 assist with loan modifications free of charge just fill in the contact form to 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 for informational purposes only it is not intended for legal advice please consult an attorney.