Stop Foreclosure

Homeowners all across the country find themselves in the uncomfortable situation of slowly losing the grip on their home. This is no different for residents of Boise, Idaho. But there is an answer. Boise short sales offer a chance for homeowners to walk away without suffering the paralyzing effects of foreclosure. Simply put, a short sale means that a bank is willing to accept a payoff that is short of what is owed on the loan. By labeling a home as a short sale, they are advertising their intention to the public. This draws in a much larger crowd of potential buyers and gives the bank a much greater chance of selling it sooner. Why would a bank make such an offer? Because in the end, it saves them money. Foreclosures cost banks an obscene amount of money, in holding costs, maintenance, repairs (when applicable), attorneys fees, lost revenue and lost return on their investment. The quicker they can stop the “financial bleeding”, the better off they will be. While this is bad news for them, it translates into good news for sellers. Now, buyers are being told that they can not only buy a nice home, but that they have the opportunity to purchase it at less than the market value. This gets the home off of the bank's books and the buyer walks in with a good deal. Not to mention that you, the seller, eliminates a foreclosure from your credit. Everyone wins. But there are other benefits to a short sale. When a home is foreclosed, the bank then comes after the seller for the difference between the sales price and the loan balance. This could represent a considerable amount of money. But a short sale is different. The bank agrees to take what is offered for the home as final payment. That takes the seller out of further obligation and they walk away owing nothing more. Another important consideration for Boise short sales is that it prevents the occurrence of a foreclosure on the seller's credit. Even though there is no way to avoid late payments from appearing, it is still a much better scenario than a foreclosure. Being able to start rebuilding your life, without the shadow of a foreclosure, and without additional debt on a home that you no longer own, is a golden opportunity that any distressed seller should seize. This seems simple enough, but it is a complicated process that takes the expertise of experienced professionals. I hold the CDPE® Designation and am ready to identify all possible options and, when possible, assist in the quick execution of a short sale transaction. If you have questions or feel you may qualify for a short sale, please contact me for a free consultation. Understanding your options now could mean all the difference in the world.