Foreclosures and Short Sales in Henry County and Rockdale County Georgia
Sheri Pettus:
Certified Distressed Property Expert (CDPE Certified)
Sheri knows about short sales and foreclosures in Stockbridge, McDonough, Locust Grove, Ellenwood, Conyers, and the surrounding areas of Georgia. How does having a CDPE Certified Realtor benefit you? Consider CDPE’s connections:
What Is A Short Sale?
Short sales have been around for years and are becoming more popular due to President Obama's talks with the National Association of Realtors. It occurs when the lender agrees to sell a home for less than what is owed on the loan. It is not the same as a foreclosure. The lender absorbs the cost associated with the sale of the home: i.e. taxes, payoffs, late fees, real estate commission, transfer taxes, and other closing costs. In most cases the home owner does not have to pay anything. If you qualify, your lender may assist you with your moving costs. In the past, lenders were reluctant to approve short sales, but are now encouraged to do so now in hopes of stimulating the economy. Typically it does not affect your credit like a foreclosure and can show on your credit as paid. You should check with your lender, and if necessary consult an attorney and/or a tax accountant, as a short sale may affect your filing status.
There are many reasons why an owner may need a short sale: health, loss or change of income, high adjustable rates, divorce, the owner took out large amounts of equity or a second mortgage, job transfer, and other reasons may apply as well.
I specialize in short sales and will give you a free evaluation of your circumstances. If a short sale is the route you want to take, I can handle it for you from A to Z. Feel free to contact me with any questions.
INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED