The Benefits of a Washington State Short Sale with Washington Short Sale Team
Many homeowners who are swamped with bills and past due mortgage payments may be wondering where they can turn to get the help they need in selling their home. They simply cannot afford their mortgage payments anymore, yet the current value of their home may not even cover the amount left to pay of their mortgage. Many people in the northwestern United States have found themselves in this position over the past several years since the economic downturn of 2008. A Washington state short sale may be just what they need. For more information on the short sale process in Washington State, contact the specialists at Washington Short Sale Team (206) 852-7026.
These people had previously had secure jobs and therefore purchased large homes at moderate interest rates. However, when the economic downturn occurred, many people found themselves without jobs, found that their salaries were cut or did not receive the annual raises on which they were counting. When this happened, the house mortgage payments were often the first bills to be let go.
Many well-intentioned people have found themselves in foreclosure or saddled with burdensome debt that they cannot ever imagine paying off before retirement. Most assume that there is no other option because the value of their home has decreased significantly. However, there is another option to foreclosure, and it comes with many benefits.
This option is known as a short sale and is performed when the lending company agrees to the house being sold for less than what is still owed on the mortgage. Of course, this is a win for the borrower who will no longer have to make mortgage payments or have outstanding debt on a home. In addition, the homeowner will not have the black marks on his or her credit score that appear after foreclosure. This will give the individual the ability to continue to take out loans, open credit cards or make other larger purchases that require a good credit score.
Not every real estate agent is qualified to help with a short sale, nor do most agents feel comfortable enough with the process to become involved. Instead, short sale experts are usually needed to guide the homeowner through the home selling process and to serve as mediators between the homeowner and the lending company. These agents will also be able to work with the legal team of the lending company to come up with a workable solution for all parties.
The agents at Washington Short Sale Team are well-qualified to help with any type of Washington state short sale. They will help the client through each step of the process, including gathering the paperwork, putting the home on the market, negotiating with the lender and closing on the home. The friendly professionals here can help ensure peace of mind for concerned homeowners.