A Weston short sale occurs when a lender agrees to receive less than the full loan balance due to a hardship on the part of the borrower. A Weston short sale is a negotiation done through the lender’s Loss mitigation department. The distressed homeowner hires a licensed REALTOR® to list, market and sell the property for its current market value, even if less than the outstanding balance of the loan. Since the lender is receiving less than what it is owned, a Weston short sale requires the lender’s approval before the sale can close.
A Weston short sale is executed to prevent a home foreclosure. Lenders will approve a well planned, well prepared, well presented Weston short sale in order to avoid the costs of a foreclosure that can reach tens of thousands of dollars.
The advantages that a successful Weston short sale brings to a Weston homeowner are too numerous to list here, but they include the end of the Weston foreclosure proceedings against the borrower, minimum impact on the credit history (compared to the devastating impact a Weston foreclosure would bring), ability to maintain current employment and obtain future employment. A Weston Short Sale is a complex, detailed and time consuming transaction and a distressed homeowner’s financial future solely depends on his/hers decision of hiring a Weston real estate professional who specializes in and is an expert on Weston Short Sales. Call Patty Da Silva, The Weston Short Sale Expert.
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~ Under the Affordable Care Act (ACA), individuals who choose not to buy health insurance in 2014 or after will need to make a “shared responsibility payment,” which is called a “penalty” in the ACA.
