Not Sure About Short Sale In Chicago Northwest Suburbs?
What is a Short Sale?
A short sale is a sale of real estate in which the proceeds from selling the property will fall short of the balance of debts secured by liens against the property and the property owner cannot afford to repay the liens in full amount.
Are you considering selling your home as a short sale? You can avoid foreclose and save your credit. The banks will consider a smaller loss and allow the short sale of a home if the criteria is met.
Waiting on a foreclosure will harm your credit for seven plus years and becoming a homeowner again will take much longer. After a short sale you may be able to buy a new home in two years. It will help you with the ability to borrow in the future.
If you own real estate in Mount Prospect, Skokie, Park Ridge, Glenview or any other neighboring Chicago northwest suburbs, feel free to contact me.