As a home buyer looking for valuein the purchase of New Hampshire Real Estate a short sale may be your best option. Buying a New Hampshire short sale is a difficult and most often a frustrating process. To achieve your goal, you must work with qualified professionals and understand the process. Utilize the services of Realtors, attorneys, accountants, mortgage lenders and home inspectors as they all provide expert advice.
A Short Sale Defined
Homeowners that have financial hardships may pursue a short sale prior to foreclosure. This process may be a preferable option to preserve their credit and limit their debt exposure. In NH, the laws governing foreclosures provide incentives for lenders to work with homeowners that can no longer afford their homes. The foreclosure process takes time and money and may prove to be more costly to the lender. In April of 2010, the government enacted legislation under the HAFA (Home Affordable Alternatives Program) which provided homeowners and lenders with new guidelines and incentives to consider short sales.
The first step in the process is to negotiate a contract with the homeowner that must be approved by the lender. If the Seller has agreed to participate in the HAFA option with a participating lender, then you will receive a more timely response through a streamlined process.
If you are interested in pursuing a short sale or other listings currently on the market, please contact Virtual Homes Real Estate.