When you are dealing with an underwater mortgage, one of the major benefits of completing a short sale is that you are in control of the sale, not your bank. As illustrated by the informative infographic above, you have control and you know exactly who will purchase your home. Therefore, you will generally feel less stressful than someone who is having their home taken by the bank. Furthermore, you do not have to deal with the negative stigma that society has placed on foreclosures. On the whole, your short sale experience will likely feel very similar to the experience of selling your home in the traditional way. Therefore there are more benefits of short-selling your property, rather than allowing for foreclosure with your bank.
Tag: Mortgage loan
Smith Lake is a beautiful lake in Winston County, Alabama. Obviously many people would want to own property here, especially on the lake front. There are stunning views of the lake’s rocky shoreline with beautiful hardwood trees surrounding it. People come here to enjoy the quiet and the beauty as well as being able to swim and boat on the lake and watch the wildlife. Luckily there are some Smith Lake front short sale properties available.
As a real estate investor, your exit strategy will play a major role in deciding the kind of financing option you may need or want for your real estate investment. There are many options that are involved in getting the financing required which is the most suitable to your needs. The main factor, however, will be your anticipated time from loan initiation to loan payoff. One also needs to think of questions like whether one wants to use the profits to buy a new property or invest it somewhere else, how much money is one hoping to make, when will the money be required?