Foreclosure, Pre-foreclosure or Short Sale?

Homeowners in today’s real estate market face unique challenges. Of special concern are issues arising out of the possibility of foreclosure on their homes and possible alternatives. While foreclosure occurrence is relatively low in Maryland compared to the rest of the country, the rate and number of foreclosures in the state has risen substantially. If Keeping Your Home Is NOT an Option, discuss: - Sale: If you can no longer afford your home, the lender will usually agree to give you a specific amount of time to find a purchaser and pay off the total amount owed. You will be expected to obtain the services of a real estate professional who can aggressively market the property. - Pre-Foreclosure Sale or “Short Sale”: If the property's sales value is not enough to pay the loan in full, the lender must approve to accept less than the full amount owed. This option can also include a period of time to allow your real estate agent to market the property and find a qualified buyer. If you need help or have questions call us 410.849.9008 we can help. http://www.cookrealestatebrokerage.com/