Short Sales Along the Mississippi Gulf Coast
In a tough real estate market like the one we are in today, I have found that many people trying to sell their homes on their own are doing so because they may owe more on the home than its current value and therefore they cannot afford to pay additional commissions and closing costs.
Most homeowners are not aware of the fact that if you owe more on you home than it is currently worth and you need to sell due to a hardship, many times the mortgage company will actually pay the commission, closing costs and any shortfall on your mortgage through a short sale. This means you can get out from under your mortgage even if you owe more than your home is worth.
Don’t think you are alone in this hardship. One in every six homeowners are in default on their mortgages and this is just the tip of what we are expecting in the next year. The bad news is that if the banks foreclose on a person with a security clearance (military, law enforcement, government contractors, etc) they will lose their security clearance and without a clearance they will lose their job as well. For the military member, that means becoming a civilian before you are ready.
A short sale will not have the impact on your credit that a foreclosure will have. Call me and I can explain it all to you.
In addition to being a licensed REALTOR, I am also Certified Distressed Property Expert and my team and I specialize in this type of transaction.
I am Dee Allegue with The Al & Dee Real Estate Group at RE/MAX by the Gulf in Biloxi, Mississippi. My team covers Harrison and Jackson counties along the MS Gulf Coast.
If you own property in Biloxi, Ocean Springs, Gautier, St Martin, D’Iberville, Gulfport, or Long Beach and need help getting out of a distressed mortgage. Call me at (228) 209-2114. I can help you get on the to the rest of your life.
