There is an interesting article in The Denver Post today, reporting that only three percent of Denver homes that sold during the first half of the year were defined as “short sales.”
This is remarkably low, considering that short sales are an optimal alternative to foreclosure. It seems that many distressed Denver homeowners are unaware that short sales are an option for them. What is a short sale? A short sale occurs when a seller’s lender agrees to accept a discounted payoff for an existing mortgage as a last-ditch effort to avoid foreclosure. Instead of being scarred for years to come, a seller involved in a short sale may be eligible to purchase for another home loan in as little as two years.
TeamCox Realtors is a Certified Property Distressed Property Expert, or CDPE. We have undergone extensive training in dealing with short sales, and in other alternatives to avoid foreclosure in Denver. Since our training last year, we have helped numerous Denver homeowners have a brighter future.
For more information on short sales in the Denver area, please contact TeamCox Realtors – your Denver real estate specialists – at 303-400-6060.
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