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Short Sale Negotiations

What is a Short Sale?

A short sale or short payoff occurs when a lender agrees to accept less than the outstanding loan amount to satisfy the seller’s loan. A short sale allows both the lender and the distressed property owner to avoid foreclosure by selling the property at a loss. From the bank or lender's perspective, short sales save many of the costs associated with a mortgage foreclosure lawsuit, such as attorney or lawyer fees, the eviction process, delays from the homeowner or borrower, delays from bankruptcy, damage to the property, as well as the cost associated with maintaining the property just to name a few. Banks and lenders know they could lose substantially more if the property goes all the way to auction, so it is sometimes better to sell the real estate now at its fair market value and get rid of a non-performing asset. Therefore, a bank or lender may sometimes decide to accept less than the full amount of a borrower's loan balance in certain situations. In turn, this provides the homeowner and borrower an opportunity to avoid or minimize the damaging affects of a mortgage foreclosure lawsuit.

Southeastern Title Company aims to make your short sale as smooth as possible. We were one of the first companies representing borrowers immediately after the real estate market crash. Our staff has years of experience negotiating with a multitude of national lenders. We have established a proven track record and a good reputation with all the major lenders and are able to get our short sales approved in the quickest allowed time possible!

We take the hassle of short sale negotiations away from realtors, leaving them the time to do what they do best, buy and sell. Our experienced staff personally meets with the seller/borrower, and assists with the compilation of all necessary paperwork including completing hardship and financial information. We then work diligently with the lender to get the short sale approved with the most favorable terms to the borrower. In most scenarios, the borrower is fully released from all liability to the lender and all other creditors.

If you are a borrower facing a hardship and wish to avoid foreclosure, please contact us as soon as possible so that we may guide you in the right direction.