Whether you are struggling to make your mortgage payments every month or your home is no longer worth what it once was you have options to avoid foreclosure. Far too often homeowners simply decide to enter foreclosure and turn their keys over to the bank and move on with their life. The damage done by foreclosure can take up to seven years to repair and can prevented through a West Chester Short Sale.

Realtors have been selling homes through a West Chester Short Sale for a few years now and the process is fairly similiar to a regular real estate transaction. When completing a West Chester Short Sale your agent will negotiate with your lender in order to sell the home for less than what you currently owe. Many homeownes are surprised by the number of lenders who agree to sell for less than the mortgage balance but in the long run it is best for both parties. On average a West Chester Short Sale will take three to four months for your lender to complete from listing the home to the actual sale date. Most lenders will require numerous personal documents from the homeowner to complete a West Chester Short Sale and a valid hardship is always a must. A valid hardship will simply tell your lender why they should allow you to sell your home for less than what you owe. Some hardships, such as loss of job, relocation, or divorce, are more common than others but every homeowner has their own unqiue situation. Some lenders and mortgage investors will also offer incentives to homeowners who complete a West Chester Short Sale. These incentives can include relocation assistance to help you move on to your next home or even tax relief from the sale of your home.

Many of the agents who handle West Chester Short Sales do not charge up front fees so a meeting to discuss your options is completely free and only takes a phone call. Far too often homeowners drain their savings and retirement accounts because they are unaware of the benefits from a West Chester Short Sale. Make sure to assess all of your options before allowing your home to enter in to foreclosure.