Short Sale Denver
If you’re one of the thousands of Denver homeowners at risk of foreclosure, here’s some good news: you don’t have to sit and wait for auction day. One thing you can do is a short sale—selling your home for less than the amount you owe and having your bank accept the proceeds as full payment. Provided your lender agrees, a short sale Denver can free you of financial obligations without the credit damage and social stress of a foreclosure.
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The first step in most short sales Denver is calling the bank’s Loss Mitigation department. This is the office that usually takes care of mortgage problems such as delinquency and default. Among other things, you should find out what their requirements are for a short sale in Denver, how they assess proposals from borrowers, and how long it usually takes.
Most lenders will require you to submit a hardship letter explaining how you fell behind and how a short sale Denver can help you get back on track. Note that you need to give a valid reason for your default, such as emergency medical bills, job loss, or a death in the family. If your reasons are entirely preventable, such as bad investment decisions or mere overspending, your lender may not consider you eligible for a short sale in Denver.
To increase your chances of approval, consider working with a short sale company such as Short Sale Safe. It may cost you more, but you also speed up the process and ensure more positive results. At Short Sale Safe, you get help from a team of professionals who know the short sales Denver process, from application to closing day. Not only do you get the help you need, you also get valuable tips for staying on track in the long run.