A homeowner’s association is an extremely small percentage of the overall short sale value. Lenders know that a short sale will net them substantially more money than a foreclosure.
I had a recent example of this. I listed a house that received a $139,900 short sale offer. The lender rejected that offer. The home was foreclosed on and sold for $116,400. That means that lender lost $23,500 by rejecting that short sale offer.
The short sale lenders/servicer had ran all the numbers on a short sale versus foreclosure. They have high paid actuaries who go through everything. If they have to foreclose, then they want to make sure they get the most amount of money possible. They know that they can recoup their money faster with a short sale versus foreclosing on a house and then reselling it.
Because of this fact, the lenders/servicers are willing to pay your delinquent homeowners association dues. In addition, the bank pays the real estate agent (they will have to hire a real estate agent when they sell the house.) They also pay the title insurance and property taxes, because they must be paid in order to sell a house. They have to pay all those costs when they sell a bank owned property.
The Bottom Line: All of the costs are borne by the bank in a short sale. You pay nothing.
Thinking about a short sale? I can help you short sale your property and never pay the bank another dime. Send me an e-mail at utahhomesaver@gmail.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call Dave at 801-651-0707.
Thinking about a loan modification? Our Utah Home Saver Loan Modification Kit has the instructions you will need to get a loan modification approved with your bank. This is a FREE for you, all you have to do is call or email us today.
Thank you for taking a few minutes of your busy day to read this, Dave Forsberg.
Dave is a Realtor with Prudential Utah Real Estate - Bountiful.
Phone: 801.651.0707 Email: utahhomesaver@gmail.com
Dave Forsberg and The Utah Home Saver Team specialize in helping Davis County, Utah Homeowners short sale and never pay the bank another dime. Bountiful Loan Modification Help, Bountiful Short Sales. Bountiful Short Sale Realtor. Bountiful Realtors. Bountiful Realty. Bountiful Realtor. North Salt Lake Short Sales. Woods Cross Short Sale Realtor. Centerville Short Sales. Farmington Short Sale Realtor. Fruit Heights Short Sales. Kaysville Short Sales Realtor. Layton Short Sales. Layton Short Sales Realtors. Syracuse Short Sales. Clearfield Short Sales Realtor. Davis County Utah Realtor. Stop Foreclosure. Stop Utah Foreclosure. Avoid Foreclosure. Avoid Utah Foreclosure. Foreclosure Alternatives. Utah Foreclosure Alternatives. Bountiful Homes for Sale. Bountiful Houses for Sale.utahhomesaver@gmail.com
