Short Sale Information for Reno and Sparks, NV
Helping Homeowners that Owe More than
their Home is Worth.
- Short Sale is an optionBeing upside down on a house is never a good situation, however it really becomes a problem when a Homeowner needs to move or the house becomes unaffordable.
- Less damaging to CreditMost experts agree that a Short Sale will damage your credit for about half as long as a foreclosure. Current FHA guidelines allow a borrower to be considered for another mortgage only 3 years after a Short Sale.
- Lenders accept Short SalesLenders are financially motivated to agree to a Short Sale when their net loss is less than if they foreclose. The Foreclosure process is expensive for a Lender.
- Lenders pay the feesLenders realize that to get the best price for a home, it needs to be marketed by a Real Estate Professional and are usually prepared to pay all the commissions and all the closing costs related to the transaction.
Download a free Short Sale Guide right away!
15 pages of Short Sale information including: What is a Short Sale? Why Short Sales Work? Who is Involved in a Short Sale? How Nevada Mediation Affects a Short Sale? Sample Hardship Letter; Sample Financial Worksheet; Debt Forgiveness and Credit Ramifications; and more.
If you prefer to discuss your individual situation either by phone or email Request a Consultation.
There is absolutely no obligation, just the information that you need to make an informed decision
Last year 2,169 Short Sales sold in greater Reno and Sparks. That is 2,169 of your friends and neighbors that owed more than their home was worth and have now been able to move on.
The Mortgage Forgiveness Debt Relief Act of 2007 treats any debt forgiven on principal residences as non-taxable. This Act expires on December 31, 2012.
If qualified for a HAFA Short Sale, a homeowner may be eligible for up to $3,000 towards relocation costs.
