Maryland Short Sale Real Estate Agent - Montgomery county

Short sales are by no means "short". A short sale by definition is when a homeowner/seller owes more on their house, to their lender, than the amount they can sell the house for. For example, if owe $400,000 on your mortgage to Bank of America but can only sell your house for $350,000 - you will need to do a short sale.

Short sales are very prevalent. The fact is a large number of homeowners, who are considered "solid" financially have been affected by the downturn in the economy. Some are facing job losses, divorce, medical bills, etc.

A short sale is a way for homeowners to escape a foreclosure, which destroys your credit. A foreclosure is a matter of public record and will stay on your credit report for 10 years. In addition, it affects your ability to purchase another home in the near future. Another trend, is that employers are increasingly screening job applicants for poor credit and a foreclosure on your credit report could signal a red flag, that stands in your way of getting a job.

Unfortunately, since your home is not worth what you owe the bank, you cannot refinance your mortgage. The appraisal process will reveal that your house is not worth your loan amount.

Selling your house via a short sale requires an agent, who understands the process. Your agent will be working with your bank on your behalf. Banks are very precise about required documentation and the way that it must be presented. Your realtor handling the short sale must be meticulous and committed. The wrong agent could mean your house being on the market for 6 - 9 months, with you ending up in foreclosure.

Please beware: NEVER EVER sign the deed to your house over to someone, who claims they can help you avoid foreclosure. The only way to avoid foreclosure is to sell the house or consult with an attorney about bankruptcy.

If you are a Maryland homeowner, living in Gaithersburg, Germantown, Olney, Silver Spring, Clarksburg, Boyds, Laytonsville, Aspen Hill, Montgomery Village, Potomac, Bethesda, Rockville, feel free to contact me to determine, if you may qualify for a short sale option.

Zip-codes: 20877, 20878, 20879, 20874, 20875, 20876, 20882, 20832, 20886, 20850, 20852, 20853, 20854, 20871, 20901, 20902, 20903, 20904, 20905, 20906, 20910, 20817, 20814, 20815.