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Working With Your Lender On a Short Sale
Manage episode 153741292 series 1099829
Το περιεχόμενο παρέχεται από το Tyler Head. Όλο το περιεχόμενο podcast, συμπεριλαμβανομένων των επεισοδίων, των γραφικών και των περιγραφών podcast, μεταφορτώνεται και παρέχεται απευθείας από τον Tyler Head ή τον συνεργάτη της πλατφόρμας podcast. Εάν πιστεύετε ότι κάποιος χρησιμοποιεί το έργο σας που προστατεύεται από πνευματικά δικαιώματα χωρίς την άδειά σας, μπορείτε να ακολουθήσετε τη διαδικασία που περιγράφεται εδώ https://el.player.fm/legal.
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Hello, and thanks for joining us for part 3 of my short sales series. Today we answer the question, "Will a lender allow me to do a short sale?" This is something many homeowners wonder about, so we're happy to answer it here.
About 99% of the time, your lender will allow you to have a short sale. There are a lot of reasons a lender might allow you to go ahead with your short sale - such as loss of job or income, divorce, and other significant reasons. However, most lenders aren't too terribly concerned about what the reason is - in other words, they are not too particular about what the exact reason is for your short sale.
The bottom line is this: if you're likely to become delinquent on your mortgage payment, lenders are usually lenient about you having a short sale. This is because they have two options: they can either foreclose on the property or cooperate with you by allowing a short sale. At the end of the day, lenders save a lot of money by allowing you to have a short sale, instead of foreclosing. In other words, it benefits them as much as it benefits you. Thanks for joining me today, I enjoy keeping you informed about our market! If you have any questions, or if you need real estate assistance of any kind, don't hesitate to reach out to me. I would love to hear from you!
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