In this drastic down market many people owe more on there home than they can sell if for. This is called being upside down. If you cannot afford the house payment of need to sell your options may seem limited. You can pay the bank the difference at the time of the sale, this could be hundreds of thousands of dollars or you can walk away from the house and return it to the bank (foreclosure).
The third option is a SHORT SALE. Short sales have been problematic, as many banks were not cooperating with the short sale. Most banks would not even talk to you until you had an offer in and then they would take months to get around to approving the sale. Frequently the potential buyer then moved on. I had heard that only 5 – 10% of short sale homes actually sold.
THE GOOD NEWS IS That Wachovia is working with Short Sale sellers. This includes any World Savings loans as Wachovia purchase World Savings. If the offers come in at market price they are quickly approving these sales with minimal documentation of distress from the sellers. In Short get the offer and the transaction is taking no more time than a normal sale.
TIME IS LIMITED as Wachovia has been sold to Wells Fargo. Soon the Wachovia structure will be pulled into the Wells Fargo structure. Wells Fargo may not continue the liberal Short Sale policy. If you have a Wachovia or World Savings loan you need to contact me now. Please Click Here to go to my web site. Submit the information for a home evaluation and I will provide a FREE home evaluation and follow up with you on Selling Your Home.
BE CAREFUL ABOUT THE REALTOR YOU WORK WITH. IMPORTANT SPECIAL STEPS MUST BE TAKEN TO MAKE SURE YOU ARE NOT HELD RESPONSIBLE FOR THE BANKS LOSS.
If you are interested in Buying a Home, especially a discounted Wachovia Short Sale or a Bank Owned Home please contact me ASAP while prices and interest rates are low.
If you are interested in Buying a Home or Selling a Home in Brentwood or anywhere in East Contra Costa County, Antioch, Oakley, Discovery Bay, Pittsburg, Bay Point and others please contact me. For regular updates please subscribe to this blog.
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What if I am in Foreclosure, having Mortgage Trouble, or Want to Short Sale my Home?
Home Point Real Estate is the company for you! Contact Home Point Real Estate and request a Free Consultation with a certifies SFR (Short Sale and Foreclosure Resource) to see if there is a way to save your Home or to do a Short Sale and help Save Your Credit. Get the Free Short Sale information Report for Buyers and Sellers too. Click Now for Short Sale Information and Free SFR Consultation.
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