If you are in a tight spot with your home, or in over your head, there are a lot of options available to you now. A Short Sale is where the bank will let you sell your house for less than you owe (a “short payoff”). The reason this is the preferred resolution is that you are more in control of your situation. You reach an agreement with the bank that all parties agree on, stop the foreclosure, and leave the house on your terms.
Most of the time on a homestead residence you are given a full release from the remaining debt, and may be exempt from tax liabilities resulting from the sale and debt forgiveness. Hope Consulting will work with you and your Realtor to ease the process, and keep you updated throughout the process. Call one of our specialists today to talk about your specific situation, or click here if you’re Ready to Begin.