3 Steps to a SHORT SALE For Maryland Residents
By Fernando Herboso - Associate Broker MD, & VA, 301-246-0001 Serving Maryland, DC and Northern VA
(Maxus Realty Group of Samson Properties )
3 STEPS to a SHORT SALE Lets begin with the definition.. What Is a Short Sale? A “short sale” is a negotiated agreement with your lender to accept less money than they’re owed as full payment for your loan. If you do not have any equity and you can not afford to pay the Realtor and the closing costs, a short sale maybe the right solution for you.. .the lender in most cases will pick up the tab. #1 The most important step. .loan mod! You should consider a loan modification if possible at this time. But under no circumstances accept a loan modification agreement that could only benefit the lender.. Obtain the correct documents required and call your lender. A loan modification has to be a win-win for you and the lender. To qualify for a loan modification these are some of the guidelin...
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