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Short Sale Help
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Dominic DiCicco

Mobile Phone: (810) 397-7498
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Short Sale Help!




  • A Short Sale is an alternative where we can negotiate with your bank to allow your home to sell quickly below the market value, even if you owe more than what your home is worth. The good news is in most cases, your bank does not want to foreclose on your home. In these challanging times, it's important to view your options to avoid foreclosure, save your credit, and save your financial future. 
  •  Through our experiences in handling distressed properties, we realize homeowners today have more questions than answers about their situation. We are available to answer ALL your questions and help you understand the best possible solutions to foreclosure as well as a well-detailed explanation of short sales.  

These are tough and frustrating times. Chances are that even if you are not experiencing a financial hardship, you may know someone who could use our help. 

Short Sales Michigan

What is a Short Sale?

A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Recent changes in corporate policy and the Obama administration have also improved the chances of getting a short sale approved.

 

But to be technical, here's a more official definition:

  • A homeowner is 'short' when the amount owed on his/her property is higher than current market value.
  • A short sale occurs when a negotiation is entered into with the homeowner's mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer closes on the property, and the property is then 'sold short' of the total value of the mortgage.

For homeowners to qualify for a short sale, they must fall into any or all of the following circumstances:

  • Financial Hardship – There is a situation causing you to have trouble affording your mortgage.
  • Monthly Income Shortfall – In other words: "You have more month than money." A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
  • Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.

Seems simple enough, but it is a complicated process that takes the expertise of experienced professionals. (cpde.com)

 

 Contact Dominic DiCicco & Family Anytime for a FREE Consultation.

Let's See What Your Options Are. 

 

Dominic DiCicco, Remax Platinum Michigan

 

Dominic DiCicco

(810) 397-7498

dominic@ddchome.com

 

 

Dominic DiCicco: Short Sale, Foreclosure and Relocation Expert SFR and Certified Distressed Property Expert CPDE

 

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