Boise ID Short Sales
What exactly is a short sale?
A short sale happens when a seller (homeowner) is forced to sell their home due to a financial hardship and the lender has agreed to accept a lower "pay off" to avoid a foreclosure. Short sales are beneficial to both, the homeowner and the lender. The lender gets to avoid costly foreclosure fees and the homeowner walks away without damaging their credit as severely as a foreclosure would bring. A short sale may take a good amount of time to complete, so do not confuse it with a traditional Realty sale. However, short sales are becoming more and more common because of the amount of successful closings it does bring.
How do I qualify for a mortgage short sale?
In order to qualify for a short sale, the homeowner must first be in a legit financial hardship. A hardship that has caused them to fall back on consecutive missed mortgage payments. Short Sales are for those who NEED to get out of their home and not those who WANT to get out of their home.
Hardships that can qualify you:
• Job loss
• Loss of income
• increased living expenses
• medical expenses
• divorce or separation
• Major repairs needed without being financially able to make them
Why is it in my best interest to do a short sale on my Boise Idaho home?
When you look at how your credit will look after going through with a foreclosure instead of a short sale, you will see that a foreclosure will affect your credit greatly. Not only will a foreclosure stop you from being able to apply for a loan for up to seven years, but it will also drop your credit score to as much as 200+ points, while also leaving it's name, "Foreclosure" stamped to your credit. A short sale will typically heal within two years, while only leaving a simple "paid or settled in full" or "paid as negotiated" statement on your credit. Also, your lender could come after you for a judgement in the quantity you owe in some situations, while also coming after your assets if you choose a foreclosure. Our Boise Idaho short sale specialists will attempt to obtain a full release from the lender for you. There are also cash back incentives to complete a short sale, some as high as $30,000. The HAFA program gives qualified borrowers in hardship $3,000 back to complete a short sale.
Can I stay in my home until the short sale is completed?
Yes you may. You will not be required to move out until closing. Until the closing, you still have legal rights as the homeowner. In many cases, a short sale can even work to delay the foreclosure process and give you more time in your home.
Who pays for your services and closing costs?
You lender does. You have ZERO financial obligation to us, and to the closing. You should never have to pay for services we offer. Your lender will pay a real estate brokerage fee along with all other seller closing costs. In fact, through the HAFA program and other lender programs, in many cases we can even get money back for you at the closing.
If I am going through a foreclosure, is a short sale still an option?
Absolutely. Banks in most cases are more than happy to work with homeowners on their short sale. It costs a lender $58,000.00 in total costs and expenses on average to go through a foreclosure proceeding. This makes it unrealistic for them to foreclose on you.
How do I choose the right Realtor for my Boise short sale?
Who you want to help you successfully complete your short sale should be an expert at short sales. A weekend training program doesn't make somebody an expert, experience does. Our advanced group of experienced specialists have extensive training in short sales and have completed numerous successful short sales. We take pride in leaving a smile on the homeowner's face and being someone they can walk beside through there financial crisis. Contact one of our agents now, and let us help successfully complete this short sale for you, right away!
Our Network covers the entire state of Idaho, and our services are 100% FREE for you! Please call (877)737-4903 or fill out the form below for a confidential, no obligation consultation. Please list the city your property is located in as well as the best time to contact you.
Remember, our service is at no cost to you!
Need a Boise Distressed Property Expert Certified in short sales to offer free short sale broker services? Our agents are here to help with a mortgage short sale, and are Certified or trained in the Idaho Home Affordable Foreclosure Alternatives, or HAFA Government short sale program. Our agents are also very familiar with the Idaho short sale process and can offer guidance and Boise short sale services at no cost. We have helped thousands of home owners stop Boise Idaho Foreclosure with a short sale. Contact us to speak to a Boise Idaho short sale specialist Realtor today. Just say, "how do I short sale my Boise real estate", or "I need short sale assistance and help in Boise Idaho", and we will get you on the right track.