Do you ever feel like your between a rock and a hard place when it comes to your current equity?  It’s OK, many people do.  With the recent changes in the market, foreclosures and short sales have exploded into the market and you may be wondering what you can do if you’re in a negative equity situation.

First off the economy has affected most everyone in one fashion or another but almost everyone would agree it’s hit the equity of our homes and is leaving many people upside-down in their equity.

So what can you do?  We can help guide you through a short sale.  While we are not attorneys or providing any legal or accounting type advise we will say there are other options to help you besides foreclosure.  Many sellers are looking to a short sale for an answer.  In short, a short sale is where you owe more money on the property than it’s worth in the current market so we sell it subject to the banks approval and work out the deficiency balance with them – typically banks will, for lack of a better term “eat” the loss on their end.

A short sale had many advantages to you as a seller and homeowner compared to a foreclosure.  If you would like to learn more about short selling your Rockford area home call me at 612-282-7653 or fill out one of our simple seller forms here.

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