Short Sale Advise in Bucks County

Many people assumed large mortgages during the real estate boom of the last decade.  When job losses or unplanned expenses occurred, they were unable to keep up with their mortgage payments.

When the mortgage amount exceeds the net proceeds that would result from selling a property, some homeowners can not afford to sell and pay off their mortgage debt. Homeowners who find themselves in this predicament should investigate whether a “short sale” would make sense for them.

 A “short sale” is the term used when a lender agrees to accept less than the full amount owed on a mortgage to satisfy the debt, and the lender writes off the excess.  This process is frequently better for the lender because it can be less expensive than foreclosing on a property.  It can be beneficial to the homeowners because their credit rating may be less affected than it would be if they were subject to a foreclosure.

Until recently, short sales were uncommon in our area, so few local real estate firms have a lot of experience in this specialty.  Coldwell Banker Hearthside is an exception.  We have a short sale specialist who has completed over 2000 short sales during the past 30 years, and another specialist who has completed 400.

In addition to the assistance of an experienced agent, such as our specialists, we always advise a client to seek professional advice from both a financial expert and an attorney before and during the short sale process. 

We can arrange a confidential conversation with one of our specialists who can provide objective information on how the process works and whether it makes sense in a particular situation.  If you are looking for Short Sale Advise in Bucks County, PA, we are happy to help you.