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Buying or Selling a Home/short selling
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Question
How difficult is to convince mortgage lenders to agree to a 10 short sell? I have 2 mortgages and I owe 145K and it might be hard to sell a house in this economy and receive full market value. Thank you,Dave
Hi Dave,
Sorry to hear about your situation. Unfortunately, it has become all to common these days! It actually is very difficult to get a lender to agree to a short sale (especially if your making your payments on time). If your are starting to get into financial trouble, my best advice is to call your current lender and ask to speak with somebody in the "loan workout department" or a division they have for trouble homeowners. They can talk to you about freezing your interest rate or maybe even lowering it a little bit to keep you in your home.
Best of luck to you.
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Jay Denit
Expertise
I'm a Real Estate Broker/Loan Consultant in the state of Colorado. We have a separate foreclosure investing company, so I'm more than willing to answer any Colorado foreclosure questions for both the home owner and investor. I have sold bank owned homes all across the country for all of the big banks. I'd be happy to answer any questions about buying or selling residential homes and specialize in luxury estates. Furthermore, I have some experience in land acquisition and development and know a touch about water rights. We are a licensed lender in most states, so I can answer general questions about all types of mortgages.
Experience
My experience is really anything that has to do with real estate. From buying and selling to investing and foreclosure, I’ve done it all. Being able to handle the acquisition and financing under one roof gives me the intimate knowledge of all facets of property conveyance. My foreclosure/bank owned property (REO) experience gives me the problem solving mindset to always find a solution.
Organizations
BARA- Boulder Association of Realtors
NAR- National Association of Realtors
CAR- Colorado Association of Realtors
Education/Credentials
Xavier University-- BSBA Finance
Colorado State University-- Professional Certificate in Project Management
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