My House Has No Equity!

If it’s 2019 and your house has no equity, you may be in a for a rude awakening. If your house has no equity now, it may be many years before it has substantial equity. The market is topping out according to real estate agents and other experts in the industry. Is this true? It will be hard to tell as it is speculative, but the market has been going up for several years now. If your house has not appreciated to an equitable standpoint by now, and if you are having trouble affording the home, or are tired of the investment, it may be time to let it go. A short sale is needed when the lien holders are receiving any money less than a full payoff. This consists of the borrower(s) on the loan sending in a financial paperwork to the mortgage servicing company. The servicer will review the borrower circumstances and complete an evaluation of the property. If everything checks out per management and investor guidelines, they will issue an approval letter to close.

Short sale repurcussions are credit impact, potential deficiency judgments ( depends on state law or investor guidelines ), and potential tax consequences if liable.

If you need short sale help or have questions, please fill out the form below or call 1-800-692-9960 and a specialist will be in touch with you shortly.