This week an article on foreclosures and short sales came out that even I found shocking. Walking away from your home and allowing foreclosure may not be the end of your mortgage obligation.

The article went on to caution that selling your home via short sale does not automatically absolve you of the debt, either. This I did know, but realized upon reading the article I have never shared this important fact with my readers.

Short sales go something like this (although each one is very unique):
#1- you go into a default position with your mortgage by missing at least one full payment cycle.
#2- you list your home aggressively for fair market value with an agent that understands the short sale process
#3- you contact your lender and stay in communication regarding the status of the listing
#4- you hire an attorney who specializes in short sales
#5- you present offers to the lender for their approval
#6- the lender approves (you hope) the short sale and the house is sold
#7- IMPORTANT: Your attorney should get a signed release of financial obligation from the lender
#8- you move on to rebuild your credit

Step seven, if missed, can mean that the lender will come after you at a later date for the shortfall between what you owed and what the property was sold for. Be sure to discuss this issue with your attorney BEFORE the closing happens!

If you need help with a distressed situation like foreclosure or short sales, I am here to help with empathy and knowledge to give you a helping hand.

I am hearing rumors that the short sale process is going to be streamlined. With the proposed changes the short sale process will be expedited and home retention options will improve.

To read more visit this story at Agent Genius.

If you need help with a distressed situation like a short sale then I hope you will contact me. I have the experience, patience and empathy to help you move on with your life.

A new seller client found me on Google by researching the term “short sale real estate agent in Western MA” and has been following my blog articles of short sale advice and education which are posted here as well as at my regular blog.

While no one wants to be in a situation where they have to sell their home via short sale, I am honored that she valued my input enough to want guidance through this and I am thrilled that I may be able to help her through this difficult time.

She tried to get several other agents to help her with getting informed and I was shocked that they gave her answers like: “short sales are too much work” and “I don’t DO short sales”.

While there is some truth to the fact that there can be extra work involved in selling a short sale, each one is different and they can go fairly smoothly. They are also a reality of our market right now. I find it hard to believe that agents are simply refusing to help, even if only with a referral to another agent that knows how to work short sales.

I find great pleasure in helping sellers with their short sale situations for a few reasons:

#1- I was there and feel empathy for their level of stress. I want to help that stress decrease.

#2- It is a hands on way for me to help the housing market recover and stop properties from foreclosing

#3- It is an avenue of business for me.

So, if you are a homeowner in Western Massachusetts who needs a real estate agent to help you make a short sale work, call me. If you are a REALTOR in Western Massachusetts who doesn’t want to work short sales: refer those clients to me, I will take good care of them!

I am now a featured writer for Agent Genius Magazine: the first multi-author real estate Magazine designed by and for real estate agents nation wide.

Agent Genius Magazine

I have written two articles for them and will be published weekly on the topics covering distressed real estate sales like: divorce, short sales and foreclosure.

Be sure to visit my page there to augment the information you see here.