My Short Sale Atlanta - Mike keeps homeowners from going into foreclosure and cures their mortgage hardship by facilitating short sales for homeowners. Call Mike Haralson Today
Mike Haralson
(404) 394-3391
Short Sale
Short Sale
Short Sale
Short Sale
Short Sale
Short Sale
What is a Short Sale?

There are many ways to lose a home. Losing ownership in a manner that destroys credit (foreclosure), embarrasses the family and strips an owner of dignity is one of the hardest. For owners who can no longer afford to keep mortgage payments current, there are alternatives to bankruptcy or foreclosure proceedings. One of those options is called a "short sale."

A Short Sell is an alternative way of selling your home Lenders have become more lenient, allowing people to short sale their homes because forclosure can be more costly. The federal government has stepped in and created programs like the HAFA (Home Affordable Foreclosure Alternatives), to assist homeowners who are upside down on the mortgage.

Here is the short sell definition:

  • A homeowner is 'short' when the amount owed on his/her property is higher than current market value.
  • A short sale occurs when a negotiation is entered into with the homeowner's lender(s) to accept less than the full balance of the mortgage at closing. A buyer closes on the property, and the property is then 'sold short' of the total value of the mortgage.

Homeowners must fall into any or all of the following circumstances, to qualify for a short sale:

  • Financial Hardship – There is a situation causing you to have trouble affording your mortgage.
  • Monthly Income Shortfall – In other words: "You have more month than money." A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
  • Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.

This seems simple, but it is a complicated process that takes the expertise of an experienced professional. Mike holds the CDPE® Designation and is ready to identify all possible options for you and assist in the quick execution of a short sale transaction if you quailfy for one.

If you have questions or feel you may qualify for a short sale, please contact Mike for a free consultation.

Understanding your options now, could make a profound difference for your finaicial future.

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What is a CDPE®?
Learn how agents with the Certified Distressed Property Expert ® designation are best suited to help distressed homeowners.