Hello everyone my name is Kevin Barmann with the Sold By Short Sale and The Matt Fetick Team, Philadelphia’s leading short sale group, thanks for your time today. I work with Keller Williams Realty in the Philadelphia area and work with distressed property homeowners day by day to help them keep away from foreclosure. If you’re unsure of what to do about your underwater mortgage call me at present to discuss your whole options.

For my blog matter right now I wanted to discuss why a bank will allow you to complete a short sale on your distressed Philadelphia property. Often instances when meeting with a client for the first time they’re puzzled why a financial institution would forgive hundreds of dollars of debt on a mortgage but there are plenty of reasons why. While short sales are still somewhat new to the Philadelphia area they’ve been pretty widespread in other parts of the country for quiet some time. Banks notice that the market value of properties have gone down and there is no sign of that changing any time soon. As homeowners proceed to struggle to make their monthly mortgage payments and foreclosure numbers stay the same banks have to have a look at getting one of the best value for your home. By allowing you to finish a short sale your lender is able to sell the property at a reduction but still earn more money than if the property have been to enter in to foreclosure. If a home-owner is unable to make their monthly payments and continues to fall behind it’s within the banks best interest to act quick with a view to avoid foreclosure.

Hopefully this information helped you to grasp why a bank would consider completing a short sale. Our group has helped hundreds of homeowners complete a short sale and would be happy to help you avoid foreclosure. Give us a call or stop by our website right this moment to get all of your real estate questions answered. Thanks and have an important day.

For more information on short sales and how to avoid foreclosure, visit the Sold By Short Sale blog or you can also contact the Matt Fetick team and get started today.