short sales

With the sluggish economy, declining property values and adjustable rate mortgages resetting, there has been a significant jump in mortgage loan defaults. Many homeowners are having a tougher time and feel they have nowhere to turn for help in today’s challenging real estate market. 

What do you do when you need to sell your home but owe more to the bank than what you can sell it for?  What if you have no equity and have no money to bring to closing or pay a commission? What if you are in foreclosure already? What if you missed a payment and know you can’t make the next one? Many homeowners have asked themselves these questions.

A real estate short sale may be your best option. In simple terms, a short sale is a special transaction where a lender agrees to accept less for a property than is actually owed on it.  Negotiating a short sale with a lender can be a complex process.  Since this is a very specialized field, a Short Sale Specialist, trained to guide you through the process, will make sure all required forms and documents to be submitted are complete.  Having an experienced Short Sale Specialist can make all the difference between having your deal rejected or approved. 

Eldorrado Chicago Real Estate, located in the heart of Chicago, has a reputation of distinction based on integrity and passion. Our award winning real estate firm, is dedicated to providing high quality service and professional expertise. If you would like to find out how a short sale can help you, call Eldorrado Chicago Real Estate and ask to speak with a Certified Short Sale Specialist.