Short Sale New York City: Will Your Short Sale be Approved?

January 20, 2014 by

Short Sale New York City: Will Your Short Sale be Approved?

If you live in New York City and are thinking about applying for a Short Sale of your home, consider the following: Do you meet the necessary criteria for a Short Sale and are you in the position to negotiate the best possible closing deal with your bank?

The following are some fundamental conditions for your Short Sale to be approved:

Ideally, your mortgage payments should be up to date and your credit should be good. While this is not a hard and fast rule and you may still be approved if this is not the case, having a credit score over 700 will greatly increase the chances of your Short Sale approval. [Read more...]

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Short Sale in New York City: The Benefits of a Short Sale

January 19, 2014 by

Short Sale in New York City: The Benefits of a Short Sale

One of the pressing questions for New York City homeowners who are faced with the possibility of default on their mortgage payments is how a Short Sale might benefit them? Is a Short Sale worth all the effort and time you need to put into it? And what, if any are the advantages of a Short Sale over a foreclosure?

Here are some answers:

1. A Short Sale helps avert the social and psychological stigma of a foreclosure. The word foreclosure itself leaves a bad taste in the mouth, not to mention a long-lasting blight on your credit score. A Short Sale allows you to retain the personal dignity of knowing you did whatever you could to recover the value of your home, honor the commitment to your creditor(s) and preserve your financial status. [Read more...]

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New York City Foreclosure: The Benefits of Foreclosure

January 17, 2014 by

New York City Foreclosure: The Benefits of Foreclosure

I know you’ve probably been trying to avoid it like the plague and it may seem like your worst nightmare, but let’s consider for a moment the brighter side of foreclosure.

First of all foreclosure can save you money and aggravation. If you legitimately can’t afford your mortgage payments and an expert has confirmed that foreclosure is your best and only option, then stop breaking your back to make payments that are out of your reach! Instead, you can refocus your energies on saving money to pay off other bills that are affordable and plan for a future investment. [Read more...]

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