Nobody ever wants to learn about foreclosures and short sales. Unfortunately, some folks are forced to get deep into the distressed property world - whether that's through divorce, job loss, or other hardship. With the economic downturn, more and more people are learning about foreclosures; you get behind on your mortgage payments and the bank tries to reclaim your home. The bank never wants to foreclose on your home - it involves lawyers, hefty fees, and hurts a lot of people in the process. But it is the only way to regain a home where borrowers have stopped paying. One way to avoid foreclosure in Fort Collins is to negotiate a short sale.
Short sales are negotiated between the lender or bank and the borrower (homeowner) with help from a Realtor working for the homeowner. Instead of forcing foreclosure on the property due to lack of payment, the homeowner and the lender mutually agree to try and sell the home at a discounted price, where the homeowner turns over all the proceeds to the lender. In Fort Collins, avoiding foreclosure with a short sale is your first and best option.
