FORECLOSING AND WHY SHORT SALE MIGHT BE A BETTER OPTION

Steps to a foreclosure and why you should short sale. Now before we get started let me tell you the difference. Foreclosures happen when the bank has sent you a summons you to pay the whole amount which is exercised via an acceleration clause or you can see if you can work out a deal with them to make up the payments missed. Calling the lender is highly encouraged because meh it can't hurt but only help. In the case you've exhausted all your options and you just can't make your mortgage payments then you can either let it go to foreclosure where the bank will go through the legal process of getting the property back or you can short sale the property. We at OMA RLTY hate doing short sales or dealing with foreclosures since we hate it when property owners get put into a hard position. However being in real estate now for 20 years i've become pretty good at it. If i can save your property we will but if not we will try to salvage your credit at least and figure out all options. Please note that we are not attorneys and will always recommend talking to an attorney since we are a lending and real estate company and cannot provide any legal advice.

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