Lakewood Short Sale and Foreclosure Services
Every year, more and more people in Lakewood find themselves in a short sale or foreclosure. Below is some information on what they are and why they happen.Â
Lakewood short sales happen when a homeowner has an underwater mortgage, meaning their loan amount is more than the property’s worth. This is much rarer than a foreclosure, but it can still be challenging to deal with because there can be costs associated with it that the homeowner may not have been expecting. These typically include attorney fees and taxes related to the sale of the home and moving expenses if they plan on staying somewhere other than Lakewood.
Short sales can be a good move, especially if the homeowner needs to move but doesn’t want to sell their house or property. Homeowners with high-priced loans often have to sell the property to get their loan balance underwater. If they do, they will retain their home and may still owe a ton of money on their mortgage.
Foreclosures occur when a homeowner stops making payments on their mortgage loan. Foreclosure occurs when the lender has not received any mortgage payments for a certain period and forecloses on the home, meaning they take ownership of it. This can happen because the homeowner cannot afford their loan anymore or doesn’t want to pay it.Â
Properties that are foreclosed on often then become short sales or auctions. The lender is responsible for getting rid of the property at this point and will try and sell it in whatever way possible to recoup some money for themselves out of the situation. This can include auctioning the home to a new owner or selling it to a qualified buyer through foreclosure.
The Lakewood real estate market can be challenging for homeowners who think they might have future mortgage problems. Foreclosures and short sales are things everyone should try to avoid, but it’s only sometimes possible. If you’re looking for help with finding properties in Lakewood, Realty One Group is here to help make your dreams come true.
Many homeowners find themselves in a short sale, foreclosure, or other such situation every year. Realty One Group is here to help you find a Lakewood real estate solution to your problem.
The Lakewood real estate market can be challenging for homeowners who think they might have future mortgage problems. Foreclosures and short sales are things everyone should try to avoid, but it’s only sometimes possible. If you’re looking for help with finding properties in Lakewood, Realty One Group is here to help make your dreams come true.
Additionally, Realty One Group has successfully found Lakewood homeowners a short sale or foreclosure solution throughout the years. Realty One Group is here to help you find a Lakewood real estate solution to your problem.
Conclusion.
Every year, more and more people find themselves in a Lakewood short sale or foreclosure. Below is some information on what they are and why they happen.
Short sales happen when a homeowner has an underwater mortgage, meaning their loan amount is more than the property’s worth. This is much rarer than a foreclosure these days, but it can still be challenging to deal with because there can be costs associated with it that the homeowner may not have been expecting. These typically include attorney fees and taxes related to the sale of the home and moving expenses if they plan on staying somewhere other than Lakewood.
If you have fallen behind on your mortgage payments and want to avoid being served a foreclosure notice, you will want to seek the expertise and advice of a short sale expert in Lakewood, Colorado.