taxes

If you are facing foreclosure or you must sell your home today, but owe more money that what your home is worth, you may have some concerns about what to do next. Some of the concerns that we hear about are regarding HOA fees, public utilities or property taxes. Many times, when money is tight, these items take a back seat to everything else. Paying for groceries, gas, and other things become more important.

If you are facing foreclosure or considering a Philadelphia short sale you don’t need to worry. When we get an offer on your home, we will require the bank to pay off those late items before they accept a short sale on the mortgage. In our area of Pennsylvania and Delaware, unpaid property taxes, HOA fees, and public utilities take priority before unpaid mortgage. So, if the bank foreclosed on your property, they would have to pay those fees anyway. It is in the best interest of the bank to do this because they don’t want to take possession of the home. We simply ask the bank to pay for these items at closing.

We are here to help you through the Philadelphia short sale process. If you choose to do a short sale instead of a loan mod or foreclosure, we will take care of everything. If you would like more information about Philadelphia short sales or just need a few questions answered, please give us a call. Thanks for watching!