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Short Sale

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shortsaleThe national mortgage crises has forced millions of Americans to face the reality they either will lose their home to a bank foreclosure or they will need to sell the home as a short sale. Understanding what a short sale is and the benefits of selling verses bank foreclosure is sometimes confusing to homeowners.

A short sale occurs when a lender agrees to allow a homeowner to sell their home for less then the mortgage owed. The lender will absorb the difference between the amount paid after the sale of the property and the amount owed or may require the borrower to pay back the difference in a repayment plan, lump sum or a deficiency judgment.

Sellers should always seek independent counsel pertaining to the sale of their home with regards to any state, federal and legal implications. Legal counsel and or Certified Public Accountant counseling is advised.

Smart Title & Settlement Services Inc. will assist realtors and homeowners with the short sale negotiations. We have a short sale submission package designed to gather all information necessary to submit the short sale package to the bank once a buyer and seller have executed a purchase contract. A Short Sale agreement must be executed between the seller and Smart Title & Settlement Services Inc. We will handle the process from the beginning through the closing.

Click here for your short sale submission package

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