STL Today has tracked success stories of homeowners in St. Louis, Missouri including J.D. Tucker from St. Louis City. According to STL Today, Tucker became single in 2012 and was faced with having to raise five adopted children with one income. He began to receive notices from the bank about foreclosing on his home. He discussed a short sale with the bank and the bank agreed. He finally sold his home for $65,000 less than the initial asking price. Tucker considers his story a success based on the sole fact that his home was sold as a short sale instead of a foreclosure.
It seems that short sales are starting to become a more realistic outcome than foreclosures. Banks are willing to work with homeowners in order to avoid foreclosure and agents are becoming comfortable in dealing with short sales. Short Sale St. Louis documented a family’s short sale situation. The family’s North St. Louis home had been broken in to three different times, so they decided to relocate. Once they tried to sell their old home, they discovered they owed $80,000. The family contacted a short sale specialist who found them a buyer within two weeks. The bank understood their hardship and approved the buyer’s offer. This short sale was a success because the deficiency was forgiven, a foreclosure was avoided and the house was sold.
These are just a few testimonials of successful short sales in St. Louis. The articles show a trend that banks and sellers are starting to favor short sales over foreclosures. Short sales have perks that can benefit the buyer and the seller. Contact Starting Point Home Solutions now for more information! http://www.startingpointhomesolutions.com