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SHORT SALE AN ALTERNATIVE TO FORECLOSURE

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Contributed by: Judy Aronson on 1/2/2008

A growing number of lenders are approving short sales as an alternative to foreclosure. The average cost of foreclosing on a property for a lender can be $50,000 to $60,000.

The move is a way for lenders to avoid having to take over and manage property.

The way banks see it, it's better than if the house goes into foreclosure, stands vacant, and then have the value decline before it's auctioned on the courthouse steps.

Short sales may also be easier on the homeowners credit than the foreclosure process and can allow them to remain in their home longer. The process can take awhile especially if there is a first and second lender on the property.

If you owe more than your property is worth and can't afford the payments give me a call if you need more information on the process 805-582-110 or email judyaronsonrealtor@yahoo.com

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CONTRIBUTOR INFORMATION

Judy Aronson

Simi Valley , CA

Judy Aronson has posted 2 stories and 0 comments since joining on 6/8/2007. Judy Aronson 's average story rating is 4.

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