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Get Your FREE Home Value Update at : CarolDaniels.FreeValues4Home.com If your property is now listed with a REALTOR® or Broker, please disregard this offer, as it is not our intention to solicit the offerings of other REALTORS® or Brokers. The informationcontained herein is deemed reliable but is not guaranteed. Message and data rates may apply.What Should You Do?Avoid foreclosure or worseby selling your home through a short sale.Short Sale:Carol DanielsBroker Associate, RealtoreXp Realty LLCwww.caroldanielsrealtor.com/Carol@CarolDanielsRealtor.comPhone: 302-569-4644 , Office: 888-543-4829License: RA-0003400, Delaware

READ ON TO LEARN ABOUT:Short Sale: What Should You Do? 01Options for financially stressedhomeowners: When a home-owner sells their home for lessthan the amount still owed ontheir mortgage.If your lender agrees to do a short sale, they'll sell your homefor less than the remainingbalance and then recoup the difference from you.What Should You Do?IS A SHORT SALE A FORECLOSURE?02PROS AND CONS OF SHORT SALES03HOW A SHORT SALE WORKS04OPTIONS FOR SELLING THROUGH A SHORT SALE05Carol DanielsBroker Associate, RealtoreXp Realty LLCwww.caroldanielsrealtor.com/Carol@CarolDanielsRealtor.comPhone: 302-569-4644 , Office: 888-543-4829License: RA-0003400, Delaware

Short Sale: What Should You Do? 02IS A SHORT SALE A FORECLOSURE?Short sales and foreclosures aresimilar in mortgage debtcircumstances but they are twodifferent processes.A short sale is sometimes calleda “pre-foreclosure”. Instead ofbeing forced to foreclose andevict the home, a homeownercan request a short sale, whichprevents foreclosure.Carol DanielsBroker Associate, RealtoreXp Realty LLCwww.caroldanielsrealtor.com/Carol@CarolDanielsRealtor.comPhone: 302-569-4644 , Office: 888-543-4829License: RA-0003400, Delaware

Disadvantages of a short sale:Potential tax consequencesCan take a long timeRequires lots of paperwork andresponsibilityNo guarantee your lender willapprove your short sale requestShort Sale: What Should You Do? 03PROS AND CONS OF SHORT SALESBenefits of a Short Sale:Avoid foreclosureLess impact on your credit scoreAfter the sale, your loan will be settledNo sudden evictions (you have a sayin the timeframe)Discreet processYou can buy a new home in the futureCarol DanielsBroker Associate, RealtoreXp Realty LLCwww.caroldanielsrealtor.com/Carol@CarolDanielsRealtor.comPhone: 302-569-4644 , Office: 888-543-4829License: RA-0003400, Delaware

Short Sale: What Should You Do? 04HOW A SHORT SALE WORKSWhen you're too behind on mortgage payments, a short sale might beyour best option. Here are the steps you need to go through.Send a short sale request to your lender. Your lenderisn't obligated to agree to a short sale, so you shouldrequest it only as a last resort when you can't make anymore payments. Contact your lender's loss mitigationdepartment and ask questions.1Get ready to sell. If your lender agrees to the process,create a short sale proposal. Make sure you get a realestate agent and any professionals needed for the process,like tax experts or lawyers.2List your short sale. Set the price. Remember: it won't be as high as its market value.3Find a buyer. A lot of paperwork is required to give buyersthe information they need to purchase a short sale. Thisincludes proof of hardship, bank statements, medical bills,etc.4Submit your proposal. Once your buyer gives an offer,you need to submit your proposal and the buyer's offer toyour lender. It helps to have a real estate agent help youthrough the process.5Carol DanielsBroker Associate, RealtoreXp Realty LLCwww.caroldanielsrealtor.com/Carol@CarolDanielsRealtor.comPhone: 302-569-4644 , Office: 888-543-4829License: RA-0003400, Delaware

Short Sale: What Should You Do? 05OPTIONS FOR SELLING THROUGH A SHORT SALEYou can't complete a short sale alone. Consider your options:Contact your current mortgage servicer and tell them you are interested in ashort sale and want to know if you are eligible.Explain your financial hardship, some homeowners face illness-related medicalbills or lose their source of income.Contact a real estate agent that specializes in short sales. They can work withyour lender, buyer, and bank.Know whether or not you live in a non-recourse state, which is a state thatcannot collect deficiencies after a short sale.Carol DanielsBroker Associate, RealtoreXp Realty LLCwww.caroldanielsrealtor.com/Carol@CarolDanielsRealtor.comPhone: 302-569-4644 , Office: 888-543-4829License: RA-0003400, Delaware

Get Your FREE Home Value Update at : CarolDaniels.FreeValues4Home.com If your property is now listed with a REALTOR® or Broker, please disregard this offer, as it is not our intention to solicit the offerings of other REALTORS® or Brokers. The informationcontained herein is deemed reliable but is not guaranteed. Message and data rates may apply.Although a short sale isn't ideal, it's a great way to saveyou from foreclosure. Homeownership is expensive, andmany situations cause inescapable debt. Let a real estateagent help you through your short sale process so you cansave money and get back on your feet, with the option tobuy a home again in the future.Carol DanielsBroker Associate, RealtoreXp Realty LLCwww.caroldanielsrealtor.com/Carol@CarolDanielsRealtor.comPhone: 302-569-4644 , Office: 888-543-4829License: RA-0003400, Delaware