Houston Short Sales - What are They?
Houston homeowners and consumers are hearing Houston real estate terms like foreclosure and short sales used more often in the local Houston media these days. But do you know what these terms really mean? If you have fallen behind on your monthly mortgage payments like many Houston homeowners have, it would be important for you to become familiar with these terms. Before we jump into the definitions, you should know that you have options to possibly prevent foreclosure.
Hope & Options to Foreclosure!
Unfortunately, there is also an overall lack of knowledge what options are available to desperate homeowners who see their American Dream slowly slip through their fingers. There is hope and options to prevent you from being taken advantage of. This article will also offer an alternative to foreclosure and the sting of a damaged credit history!
Houston Short Sale Defined
The definition of a short sale is a situation when your lender(s) agrees to accept a mortgage payoff amount
that is actually less than your existing loan balance. In a Houston short sale scenario, your lender may actually forgive your remaining balance of the loan allowing you to "short sale" your Houston home as an alternative to a foreclosure.
Avoid Losing Your Houston Home to Scams!
Before you sign any documents that offers you a loan to help catch up on your mortgage payments, be very careful. There are so-called "Houston Foreclosure Prevention" entities in Houston who prey on homeowners who are desperate for financial help. Many Houston homeowners have unknowingly signed over their deed to their home to these organizations and thus lose their homes.
Protecting Your Best Interest!
That's why it's important to have a licensed, trained Houston real estate team
looking out for your best interest. As Houston Realtors, we abide by a strict code of ethics. Plus, the Zoller Group enters into a fiduciary relationship with our clients with the idea to protect and provide information. Contact the Zoller Group
today to see if a Houston short sale is the right option for you.