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What is a Short Sale and Is It Right For You?

 

Team Dixon is your Sales Solution Team • We are experts in Short Sales • We are skilled at negotiating with lenders.

Team Dixon is working together with buyers, sellers and banks to move properties quickly before foreclosure therefore providing a financial solution for all parties involved.

More people than ever are choosing to short sale their homes rather than face foreclosure.

It's no secret, homes have lost value. Many people are in trouble financially due to different circumstances and are at risk of foreclosure.

We are here to help. Our commitment is to work with sellers and do our best to save them from foreclosure therefore relieving their financial burden and perhaps saving their credit reputation. You have nothing to lose.



The Basics Of A Short Sale

The concept of a short sale is fairly simple. A short sale occurs when the sale proceeds of a house fall short of what the owner still owes on the mortgage. Many lenders will agree to accept the proceeds of a short sale and forgive the rest of what is owed on the mortgage when the owner cannot make the mortgage payments. A few words of warning are in order. Not every lender will negotiate a short sale. Additionally, Lenders often have no interest in negotiating a short sale unless your payments are several months late. Another consideration is you may be held liable for taxes on the difference between the sale amount and the original loan amount.



How will this affect your credit? Foreclosure vs. Short Sale

Without a doubt sellers will incur more damage on their credit report by going through foreclosure. Typically your credit score will take plunge between 200 to 300 points. Short sales have a far less damaging affect on a seller's credit report. Credit scores typically lose between 80 to 100 points. What happens to your credit down the road? It takes around three years after a foreclosure before a lender will offer a sensible interest rate, whereas for a person who went through a short sale typically waits around 18 months to buy another home at a good interest rate.

Salvaging your credit should always be the primary concern when making the decision between a short sale and stopping foreclosure. The savings in interest payments alone should be convincing enough for most people, not to mention your buying power in the near and distant future.



Our Commitment

We will negotiate with your Bank on your behalf and will do all we can to get them to forgive the difference between what you owe and what your home is currently worth (even if you have multiple mortgages on your home). The best part is the Bank pays all closing costs including our Commissions!!

We have successfully assisted countless homeowners who thought they were trapped by using this option! If you would like to have more information about our program and how we can help you, please take a moment to fill out the information below, and we'll contact you shortly. Thank you and remember to "Start packing"!