What Is A Short Sale?
A Short Sale is the sale of real property that produces less than the necessary proceeds to pay off the mortgage against the property. Once a Short Sale is approved, banks typically forgive the negative balance and report the mortgage as a settled debt. Washington State is a single action State which allows banks to either foreclose, or seek a deficiency judgment. They can not do both.
FHA PFS (Pre-Foreclosure Sale) program is a FHA Short Sale program specifically designed to assist homeowners with FHA mortgages avoid foreclosure. If you are a homeowner with an FHA mortgage and want to do a Short Sale, contact us for more information on requirements for participation in this HUD approved program or click HERE for more details.
We have successfully negotiated Washington State Short Sales for 10 years. The short sale process requires experience, patience, tenacity and knowledge in order to be successful negotiating with banks. You need a strong Short Sale negotiator working for you who understands a banks motivation is the bottom line, but people make it all happen. Having the right person/company in your corner will insure your success.
Contact us immediately if you are concerned about a looming foreclosure, or if you are behind on your house payments, a Short Sale may be a solution. A successful Short Sale can help save your credit from foreclosure reporting, stop the mortgage company from harassing you and save your equity. We are the Short Sale Company for you.
Recent changes to the State Department of Revenue REET (real estate excise tax) policy, allows for short sale sellers to apply for a refund of excise taxes paid on forgiven debt. Follow the link for the application. Link.
The only thing standing between you and your bank is an experienced
Short Sale Company