A short-sale occurs when a homeowner's lender allows the homeowner to sell the house for less than the amount owed on the mortgage. When an owner attempts to sell their home and the mortgage owed is more than the house is worth, they’re considered to be “underwater.”
Unfortunately, you're not alone. New Jersey has one of the highest foreclosure rates in the country with many home owners facing the prospect of a short-sale. It is important to have the proper help needed to handle your short-sale because it can be a more complex process than a traditional sale.
Jeannette Burke is dedicated to working with homeowners, lenders, and attorneys to successfully get home owners through the short-sale process.