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The current real estate market has left thousands of homeowners trying to avoid foreclosure. The boom and bust caused many homeowners to be upside down in their mortgages, in other words, owing more than their home is worth.
Some are seeking help via debt negotiation specialists. An experienced debt negotiation specialist can help a homeowner with what is known as a “short sale”. A short sale simply means that a house is sold for less than the value of the loan amount. Banks are willing to consider this option when other alternatives have failed.
Debt negotiation specialists, such as licensed mortgage brokers, have strong relationships with lenders and can often work with both the homeowner and bank to reach an agreement that benefits both parties
It is important to seek out a firm with experience that can represent your best interests. These firms do not charge the seller any fees, which gives a homeowner with a large debt burden the opportunity to immediately engage their services.
It is also worth noting that a realtor does not need to be a part of the proceedings. And by eliminating the need for their services, the associated fee is also removed. There are also other fees such as closing and moving costs that can be reduced or eliminated, dependent upon the particular case.
“If you are upside down in your mortgage and are considering a short sale, do a bit of research before settling on a representative. This will save you from the potential of making a difficult situation disastrous.” says a representative from www.sellhomeowner.com. Sellhomeowner is a short sale specialist company that helps stop foreclosure in Portland, Oregon.
It is possible to avoid foreclosure with little to no fees passed on to the homeowner. But it is imperative that you find a reputable company to handle any concerns you might have.
They will guarantee that you are completing the necessary steps and following up with the necessary companies/agencies to ensure that the transaction is a success.