9 Reasons to Short Sale Your Home in Virginia

By
Real Estate Broker/Owner with Equity First Realty VA BKR# 0225058489

9 Reasons to Short Sale Your Home in Virginia

Top Nine Reasons to Short Sale

1. You pay no out of pocket expenses. All short sales are sold as-is, meaning you won't have to bother spending time and money on tedious home repairs. Your lender also pays for all commissions and services on both sides of the transaction, giving you the least hassle possible in moving on to your next home.

2. Your credit damage is minimized. A short sale will have a recoverable impact of 80-100 points on one's credit, compared to the devastating effect of 250-350 points a foreclosure has on a credit score.

3. You can buy another home in approx. two years. Fannie Mae Announcement 8-16 recently set the standard that homeowners who choose to short sale only have to wait two years before buying another home. Foreclose prevents you from owning a home for at least 7 years

4. You have an assured sense of relief. Short sales in lieu of loan modifications give homeowners a firm new start. The Department of the Treasury just released a study revealing that 55% of homeowners default again within six months of receiving a loan modification.

5. You save money and pay less taxes, The Mortgage Forgiveness Debt Relief Act of 2007 allows short sale homeowners to not be taxed on the difference between their loan amount and the short sale price. With a foreclosure, you'll receive a 1099 for a home you don't even own.

6. You have a dignified solution to a difficult problem. A short sale allows you to stay in your home during the negotiation period. A foreclosure can become an embarrassing situation as a bank representative comes by to lock up the doors and windows, change the locks, and put up "bank owned" signs on your property while the local Sheriff is contacted to have you forcibly evicted.

7. You can have a trust deed sale date delayed. A short sale will cause the lender to postpone a trust deed sale date.

8. You'll have an easier time finding a nicer place to rent. If you chose to rent, a foreclosure and/or eviction are red flags for landlords that will make it very difficult for you to find a place to live in the future. However, while a short sale is being negotiated, homeowners have many more options and can easily select a new place to live at their leisure.

9. Receive Relocation assistance. You may qualify for cash assistance up to 5k depending on your lender.

Contact our team today to learn more about your options

Certified Distressed Property Expert

Please contact Marcus for a free consultation and we will work with you to either help you save your home or sell it.

WWW.RICHMONDVAHOME.COM for more info or call 804-247-8187

RICHMOND VIRGINA SHORT SALES
PETERSBURG VIRGINIA SHORT SALE SPECIALIST
COLONIAL HEIGHTS VIRGINA SHORT SALE SPECIALIST
CHESTER VIRGINIA SHORT SALE SPECIALIST
RICHMOND VIGINIA SHORT SALE SPECIALIST
HENRICO COUNTY SHORT SALE SPECIALIST
CHESTERFIELD COUNTY SHORT SALE SPECIALIST
VIRGINIA SHORT SALE SPECIALIST
FREDERICKSBURG SHORT SALE SPECIALIST
VIRGINIA BEACH SHORT SALE SPECIALIST
LOUDOUN COUNTY SHORT SALE SPECIALIST
FAIRFAX COUNTY SHORT SALE SPECIALIST
PRINCE WILLIAM COUNTY SHORT SALES
FAQUIER COUNTY SHORT SALES
CHANTILLY VENTURES SHORT SALES
ARLINGTON SHORT SALE SPECIALIST
CHANTILLY VENTURES SHORT SALE
FAUQUIER COUNTY SHORT SALES
RE/MAX SHORT SALE
SHORT SALE CHANTILLY VENTURES
SHORT SALE NORTHERN VIRGINIA
STOP MY FORECLOSURE VA
STOP MY VIRGINIA FORECLOSURE
STOP VIRGINIA FORECLOSURE NOW
HELPING OUR NEIGHBORS IN NEED

   Finding your Richmond, VA.  dream home has never been easier, use our links to get started.

WWW.RICHMONDVAHOME.COM

WWW.RICHMONDHOMESEARCH.NET

The Marcus & Tonya Rice Team specializes in Richmond, Va, Henrico County, Chesterfield County, Powhatan County, Hanover County, Petersburg, Colonial Heights, and Fort Lee Homes and Real Estate for sale. We are tech savy realtors with over 11 years experience. Please join us on our Social Networking Network to stay up to date on Richmond Virgina real estate news and more...

The Marcus Rice Team can be reached at 804-247-8187 or remaxrice@live.com  

Facebook Marcus Rice Team Fan Page  Twitter Marcus Rice Team  You Tube Marcus Rice Team  Marcus Rice Team Real Estate BlogMarcus Rice Team CDPE SITE

The Marcus Rice Team
RE/MAX Allegiance

 13204 Hull Street Rd. 
Midlothian, VA 23112

Call Marcus at 804-247-8187
Office 804-419-1420

www.richmondvahome.com
email: remaxrice@live.com
Short Sale Site: http://www.cdpe.com/profile/view/19070

Certified Distressed Property Expert

Posted by

Marcus E. Rice - Principal Broker, CDPE

close

Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Jon Quist 05/29/2011 10:33 PM
Topic:
ActiveRain Community
Location:
Virginia Chesterfield County Richmond
Groups:
Addicted to Active Rain
Local Expert
Realtors®
RE/MAX Active Rain Bloggers
Short Sale Specialist Network
Tags:
stop foreclosure richmond va
crichmond va short sale
chesterfield county short sale
henrico county short sale
loan modification virginia

Anonymous
Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
329,829
Jon Quist
LONG REALTY - Tucson, AZ
Tucson's BUYERS ONLY Realtor since 1996

Well thought list of positive reasons why a short sale is the best alternative in an unpleasant situation.

Now, if you can just the crooks in management at the banks to coopertate, everything will be perfect.

May 29, 2011 10:14 PM #1
Rainmaker
257,600
The Marcus Rice Team
Equity First Realty - Richmond, VA
Richmond VA Real Estate Services

Jon,

You are always right own the money. Jon have a great Memorial day!

May 29, 2011 10:26 PM #2
Rainmaker
166,000
Bruce Parker
RE/MAX Best - Highland Park, NJ

yes and crooks they are!

May 29, 2011 10:28 PM #3
Rainmaker
257,600
The Marcus Rice Team
Equity First Realty - Richmond, VA
Richmond VA Real Estate Services

RE/MAX Best,

You never know what your going to get with these different banks...

May 29, 2011 10:52 PM #4
Anonymous
Post a Comment
Spam prevention
Show All Comments
Rainmaker
257,600

The Marcus Rice Team

Richmond VA Real Estate Services
Give me a call...
*
*
*
Spam prevention

Additional Information