Short Sale Service

           What is a Short Sale?   

When a home is listed and hopefully sold, for less than the seller owes on the mortgage.

 A short sale will require approval from the lender.  That could take several months, if it ever comes at all.

            Who would want a short sale?

Will this affect a seller and borrower's Credit Rating?

It might, but, the mark left on a borrower's credit is slightly less damaging than a traditional foreclosure, or, if the deal is done right, there will be no negative mark at all, the option to sell at a loss is becoming popular in this market. Most of the sales being finalized in Las Vegas right now are short sales, or 'bank owned' 'REO' and  foreclosed homes.

Obviously, those of us who bought a home or refinanced a home in Las Vegas after 2002 find themselves owing more on our houses than the house will bring on the open market.

A short sale can help you get out of a bad mortgage.