Maryland Short Sale Question and Answers
Maryland short sale question and answers
- What is a short sale?
A short sale happens when a lender is willing to accept a lower pay off of a home in order to avoid a foreclosure on the home. The homeowner must prove their hardship to the lender with a series of documents and a hardship letter.
- Why should I do a short sale?
A short sale is beneficial to a homeowner for many reasons. One of the biggest reasons would be the impeccable impact a foreclosure would have on your credit. A foreclosure may stop you from being able to take out another loan, let alone be a homeowner again for up to 10 years. A short sale will give you the oppertunity to re-establish yourself within two years. A short sale credit impact is minimal and well worth it!
- What are the qualifications for a Maryland short sale?
In order to qualify for a short sale you will usually have to be in some sort of hardship. These hardships can range from Divorce or separation to excessive medical bills. Whatever your hardship might be, be prepared to show proof of it in your short sale package and through your hardship letter.
- Will I be able to stay in my Maryland home until the short sale is finished?
Yes you will. During the short sale process, the home is still yours; you still carry all rights to the home. You will not be asked to vacate until the closing of the short sale. During this time, you should be finding solutions for other places to stay and possibly saving up.
- Can any Realtor short sale my Maryland home?
When you are opting for a short sale, it is best to have a Maryland short sale specialist alongside you. Not just any Realtor can successfully close a short sale. You should do your homework via internet, word of mouth, or even newspapers when it comes to finding the right short sale specialist for you. You should make sure they have plenty of proof to back up their short sale history. Most Realtors may tell you they will help you with your short sale but it is advisable to find a short sale specialist, this way, you can be sure it gets done right!
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www.Short-Sale-Specialists.com
877-737-4903
Ask a local short sale specialist!
Are you trying to stop foreclosure on your Baltimore Maryland home,? Our Baltimore MD area Distressed Property Expert real estate agents are here to help, and are Certified or trained in the Maryland Home Affordable Foreclosure Alternatives, or HAFA Government short sale program. With the assistance of an experienced specialist, you may be able to avoid Maryland foreclosure by choosing one of the many alternatives available. If you are looking for ways to avoid Maryland foreclosure, contact us to speak to a local expert to offer no cost assistance.
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