A Short Sale occurs when the lender or bank agrees to accept less for the property then is actually owed on the mortgage.

Why would a lender or bank accept a short sale?

There are many reasons behind the bank's decision to accept a short sale request, such as repair costs, Realtor commissions, and holding costs.  Some other factors include:

• Does the homeowner deserve a short sale?
• Is it in the bank's best interest to take a short sale or reposses the house and sell through a Realtor?
• How many properties does the lender currently have in default?
• Is a third party servicing the loan?
• What is the demeanor of the bank representative in loss mitigation with whom we are dealing?

There are many factors to be considered but the bottom line is if you are having fainancial hardship and/or your circumstances have changed and you can nolonger pay your mortgage, don't wait until it is TOO LATE! Call us today to see it the Short Sale option can work for you: (215) 340-5700 x266.