Short Sale Process- Way To Avoid Foreclosure

There are certain reasons behind why a homeowner is facing financial burden that made him face foreclosure. Some of these are: loss of job or income, death of the income provider, divorce or an increase interest rate that made the person having a difficulty to pay his monthly mortgage payments. It’s surely a nightmare to a person’s life when if he has to face this situation which it will be hard for him to recover. This can be emotionally damaging and embarrassing.

However, there’s one thing that could save him from a total foreclosure and it’s buy doing short sales in east cobb ga which means he will try to sell the house less than of what he owed to a potential buyer. The short sale involves two process: first is between the owner and the buyer pertaining to real estate transaction and; second is between the owner and lender regarding the debt settlement.

In real estate transaction, typically the owner will find a prospective buyer who can buy short sales in east cobb georgia. In the short sale or selling process, the lender is not involved. The lender will only contemplate the offer from the buyer regarding the price of the property. Usually, this takes one to two months before responding to an offer and it’s not certain if it’s okay or not.

The owner has to prove that he is undergoing financial hardships which he also has to present necessary requirements as proof for the necessary action in debt settlement. This would also be hard for the owner if the lender will or will not let the owner pay the remaining debts after the successful short sale.

As much as we want to avoid this in certain point of our lives, we can’t if it’s already happening. Carrying all the burden all through the way can be exhausting and frustrating in the homeowner’s part and he has nothing to do but to finish everything just to save him from foreclosure. However, everything could be easy if considering the participation of a short sale agent who is expert in selling east cobb short sale homes.

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