Adrian Provost
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​Atlanta Short Sale Listing Specialist - Stop My Atlanta Foreclosure!!!

If you have fallen on difficult financial times, you might want to look into the advantages of a short sale. This option allows the homeowner sell the remaining mortgage for less than what it is actually worth and then proceed to give the profits to the original lender. Unlike foreclosing on the property which is forced on a homeowner a short sale is actually something that must be agreed upon by both the homeowner and the lender in order for the process to begin.

Along with having to have your lender agree with your choice to do a short sale you must be aware that you are not allowed to just go ahead with such a thing you must in fact qualify for the process. A person must prove their need by showing documentation which proves that they are behind on mortgage payments, documentation showing that they have in fact, had financial difficulties recently as well as they must be able to show the proper authorities that they do not have any equity.

Some people feel it's a more difficult process than just foreclosing because of the fact that there tend to be a lot of people involved. In most cases it is most certainly to your advantage to consider going this route if it is an option for you. Despite what sometimes might be quite a few people involved it is still a bit easier on your financial record than foreclosing.

It's a good idea if possible consider involving an investor in the process as the lender will often look more kindly on the situation when they know there is an investor involved. By doing this you minimize the number of people involved and thus make it easier for everybody to work out a deal.

A price will have to be negotiated for based on a recent appraisal of the home. This number is usually far lower than what the home is often worth. In most cases you are dealing with the bank when you are negotiating such a contract and though it may not seem like a good deal for them they will in many cases eventually agree upon an offer because it will save them money in the long run.

Choosing this option will allow you to discontinue paying mortgage payments unless you actually choose to which is a great benefit to those who are finding it extremely tight financially. In many states depending on where you are located you can actually choose to return to the buyers market and purchase a new home once you are financially stable thus having the option not to pay the mortgage at present time can help homeowners organize for the future.

Though your credit score will certainly lower by having to sell your home in this manner it is certainly considered by most a more generous way to handle the situation. Unlike foreclosure where you would be forced to wait between five and seven years before you can move on to a new home with short sale often the case is you have to wait only two years.

It's an unfortunate fact that there are times when this process will actually fail to work but, in many cases it will. In the long run it will save you a lot of time and stress because it will leave you free to move on without any large debt overhead.

​We are Atlanta short sale listing specialists, agents, realtors and brokers who can help prevent your foreclosure.

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