Once upon a time, foreclosure was something people really only faced if they fell unexpectedly ill, wound up facing divorce, or found themselves face to face with some other huge life tragedy. However, these days unemployment or general financial hardship is finding more and more St. Louis area people having to give up their homes and downsize.
That’s why the concept of the short sale is becoming a popular option for people in this situation. Although a short sale does still involve giving up your home, it can represent a preferable alternative to outright foreclosure for a number of reasons. This is especially the case if your home has lost value for whatever reason since you bought it. The biggest questions that people have for us are “What is the process like?” and “How do we begin?”. Most of the time people are very overwhelmed with the whole idea of selling their homes, so this outline shares a little information about the process.
Step 1) Find an Expert
The first and most important step to initiating a short sale is to find an expert who can help you through the process. Only a professional who has handled short sales in the past, and particularly St. Louis short sales, will be able to tell you if you qualify and what the process will be in this area of the country. In addition to just knowing the process and having someone to ask questions, the short sale process is stressful and often very difficult for people to go through. Having a professional to help gather information and go through the process can be a huge relief, and can make sure the process runs more smoothly. Read more…