>> What is a Short Sale?

The sale of a home in which the proceeds fall short of what the owner still owes on the mortgage and where the buyer receives a clear title is called a short sale. The current lender agrees to accept less that the balance and allow a new buyer to purchase the home at an agreed upon price. Lenders sometimes find this a less costly solution to foreclosure. The homeowner that can no longer afford the mortgage payments may avoid a foreclosure on their credit by proceeding with a short sale.

Short Sales are of great demand in today’s mortgage world. Unfortunately, this great demand has caused a great backlog of short sale requests for all lenders. As the mortgage dilemma worsens, so does the backlog. Sellers don’t want to lose their homes to foreclosure and buyers are willing to pay a fair current value for the home. Realtors are quite efficiently doing their jobs by putting the demand and supply together to have a buyer and a seller. This is where the backlog starts.

Lenders require specific information to approve a short sale. Short Sale Packages must be submitted. This is where The Borrowers Advocate, LLC starts to work for you.

The Borrowers Advocate, LLC can help you process your short sale from listing to closing. The Borrowers Advocate, LLC was formed to assist homeowners and borrowers in the current mortgage crisis and is owned by prior wholesale mortgage professionals. We have a process that will allow us to track each and every file in the most efficient manner possible. This same process will allow us to keep you, the listing agent, informed about the progress of the file through closing. A successful short sale requires all involved parties to work on the sale at the same time. These parties could include multiple mortgage holders, tax liens, and PMI companies. All parties must agree to the terms of the sale. Extensive paperwork, follow up and phone calls are required to successfully complete a short sale. Don’t spend your time trying to navigate through the short sale process. Let the experienced professionals at The Borrowers Advocate, LLC handle your short sale processing while you obtain more listings and buyers.

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