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What Is My Home Worth?

Our FREE service provides you with your home's current market value and suggested selling price.

Friday, February 08, 2019

10816 Sun Ridge Rd, Goshen, KY 40026

Motivated Seller! Welcome to 10816 Sun Ridge Rd! This 4 bedroom, 3.5 bath home in Old Taylor Place is stunning and very unique! It portrays a luxury farmhouse feel with it's oak wood beams throughout and the open floor plan. The house welcomes you ...  Read More

Friday, February 08, 2019

Hiring a Real Estate Agent

Tips on Hiring a Real Estate Agent Before hiring a real estate agent, interview 3 agents. That’s right 3! Many people are of the opinion that all real estate agents are created equal. Nothing can be further from the truth. Just to name one ...  Read More


SHORT SALES EXPLAINED FOR LOUISVILLE KY HOMES

A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their Louisville, KY homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. It is becoming more and more common as recent changes in corporate policy and the Obama administration has also improved the chances of getting a short sale approved.

But to be technical, here's a more official definition:

  • A Louisville homeowner is 'short' when the amount owed on his/her property is higher than current market value.
  • A short sale occurs when a negotiation is entered into with the homeowner's mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer closes on the property, and the property is then 'sold short' of the total value of the mortgage.

For homeowners to qualify for a short sale, they must fall into any or all of the following circumstances:

  • Financial Hardship – There is a situation causing you to have trouble affording your mortgage.
  • Monthly Income Shortfall – In other words: "You have more month than money." A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
  • Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.

This seems simple enough, but it is a complicated process that takes the expertise of experienced professionals. I hold the CDPE® Designation and am ready to identify all possible options and, when possible, assist in the quick execution of a short sale transaction.

If you have questions or feel you may qualify for a short sale, please contact me for a free consultation.

Understanding your options now could mean all the difference in the world.