NYC Short Sale Specialist

What a Short Sale is Not

 

It needs to be clear to you, the homeowner; a short sale is a way to avoid foreclosure. It is not a way to get out of a mortgage. In order to have a short sale approved you have to either be in or be headed for foreclosure. This means that you have to have a valid financial hardship for why you can’t pay the mortgage.

 

A seller without a financial hardship that wants to sell is not a potential short sale. This individual has a few options available such as waiting the market out or in the most extreme of cases letting the property go into foreclosure.

 

Need further explanation?

Please call us 212-612-9681 or by email at PatrickLillyTeam@CoreNYC.com.