If you need to sell your property, and you owe more than the property is worth, you may be a candidate for a short sale (or other solution).

Whatever the reason:

  • Loss of Job
  • Business Failure
  • Damage to Property
  • Death of Spouse
  • Death of Family Member
  • Severe Illness
  • Inheritance
  • Divorce
  • Separation
  • Relocation
  • Military Service (SCRA relief may be available for active duty personnel)
  • Insurance or Tax Increase
  • Reduced Income
  • Too Much Debt
  • Incarceration

You need to talk with a Certified Distressed Property Expert.  Follow this link to find a CDPE in Colorado. http://www.CDPEofColorado.com

Other solutions to a Short Sale include:

  • REINSTATEMENT: Bring the loan current and restore the loan per the original terms.
  • FORBEARANCE: Temporary repayment plan until the property is sold or missed payments are payed in full.
  • REFINANCE: New loan with reduction in monthly payments.
  • LOAN MODIFICATION: Modify original loan terms to make the loan affordable.
  • SELL THE PROPERTY: Use equity to payoff or pay difference.
  • RENT THE PROPERTY: Make the loan current and then convert the property into a rental property.  You can turn the property over to a local property management company like:  RentalWorks
  • DEED IN LIEU OF FORECLOSURE: “friendly foreclosure”.  This is when the homeowner returns the keys and “deed” the property back to the lender.
  • BANKRUPTCY: Will stall foreclosure but not prevent it.
  • SELL TO AN INVESTOR: Sell or deed your property to an investor or 3rd party can cause bigger problems.

Visit the CDPEofColorado.com site for more information about these solutions.

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