J Borstell Real Estate is the leading short sale company in the Tewksbury Real Estate/ Merrimack Valley area. We will handle the listing of your home while professional short sale negotiators handle the negotiations with your lender(s).
Contact us if you have questions and would like additional information.
What is a Short Sale?
A short sale takes place when a person sells his/her property for less than the amount owed on the mortgage.
- Why conduct a short sale?
- A short sale is less burdensome on your credit than a foreclosure. After a short sale, you can start rebuilding your credit in as early as 12 months. With a foreclosure, your credit is negatively impacted for 7 years.
- In foreclosure, the bank is able to come after you for the amount owed for up to 7 years. With a short sale, the banks usually make you agree to a promissory note, which is unsecured.
- While the short sale is being negotiated, you can remain inside your property.
- You may be eligible to receive a relocation payment from the lender.