Short Sale - is your Corinth Home in danger?

Short sales in Corinth, TX account for a small but growing percentage. Short sales benefit both lenders and owners. Lenders in the way that cuts costs of selling a foreclosure property and owners -they save people from the foreclosures and ruined credit.
As a current home owner you may not be aware that your home may be in the short sale position!
You are not alone in the situation when you and your family must move and proceeds from sale of your home at the market price will be less tnan you currently own on it. People in this situation are current on payments, they keep their homes in good to exeellent condition. They do not realize they are in a short sale situation until they decide to sell and move. If you suspect you might be one of these people contact an agent familiar with shrot sales.
Even if you home appreciated and it is now worth more than what you paid for years ago - only NET SHEET of PROCEEDS from sale will determine whether you walk away with cash or need to bring money to the table. NET SHEET is only an guestimate based on market research of what your home may sell for at this time.

Example:
You bought your home for $200,000 3 years ago
You took 100% loan on it (80/20 or 70/30)
You rolled your closing costs (this is bad!) 10,000
Your total borrowed sum is $210,000
You hardly paid down any equity during these 3 years
Now the home is worth $210,000
Calculate Broker commission, prorated tax, title company costs, Title insurance and you are in Negarive Territory!
You might end up needing another $16,000 just to close the sale!

So, call the agent and talk about it. She or he might either refer you to TOP SHORT SALE specialists in the area or handle it herself. This situation calls for a lot of work, communication with a lender - who are usually very unresponsive - and they have the right to ignore you all together! and a lot of waiting. BUT THIS MIGHT BE THE ONLY CHOICE YOU HAVE!