If you cannot refinance your property and are facing foreclosure, you may wish to contact your lender to discuss a short sale, especially if you owe more than the fair market value of your home. There may be other options available to you. If your property is worth at least $250,000, it may be possible to find an investor to aid you in keeping your property even with minimal equity. Email us at brian@bestvirginiahomeloans.com for more information, and please include the state in which the property is located, the value of your home as well as all outstanding mortgage balances, fees, and past due amounts so that we can assist you efficiently.

Short sales are an option of last resort. If you have 30% or more equity in your property, you may qualify for a foreclosure refinance. To find out more about foreclosure refinancing as an alternative to a short sale, contact us at 703-891-4509

A shortsale could save you from completely damaging your credit. One main part in a shortsale is working with an expert that is knowledgeable on excuting shortsales. The lender does have to approve the shortsale, and will send out BPO to determine the value of the home.

The foreclosure process can cost a lender a significant amount of time and money, so they may be more willing to accept a short sale than begin a lengthy legal proceeding.