Every San Jose homeowner has heard and read about short sales at some point or another in their quest to sell or buy a home.

The term Short Sale is actually used to describe a stage in the Foreclosure process during which a homeowner tries to sell his home (while he/she still owns it) for less than what he has borrowed to pay for it initially. The process is referred to as a short sale because homeowners are ‘short’ to repay their lender(s).

During a short sale, homeowners, with the help of a Realtor, will also initiate negotiations with their lender(s) to make them accept a lower settlement, ideally as close as possible to the price at which they are trying to sell their home.

If you are cornered in a short sale situation, here are the 3 things you need to do right away:  understand what your true financial situation is, do not stop paying unless you are obligated and get advice from a Realtor about how to initiate negotiations with your lenders.

Do not hesitate to call me at 408 717 2575 or email me to set up an appointment and talk about how I can help you deal with a short sale situation.

Sophia Delacotte
Your Realtor in Almaden Valley

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