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A Metro Denver, Colorado Short Sale Example

Here is an example of a Metro Denver short sale situation:

John and Sarah bought a home in Denver in 2006 and borrowed $250,000 for the purchase. Now, because of the economy, the home’s value has decreased to $200,000, and Sarah has lost her job. But John and Sarah still owe the full balance on the mortgage. They’ve exhausted all their financial resources in trying to keep up with the mortgage payments, and they have no remaining equity in the home. They can no longer make the payments. In addition, they can’t afford to pay the Realtor’s fees and closing costs to sell their home.

John and Sarah need to consult an experienced, trained short-sale specialist immediately. A Realtor who is an expert in short sales can make all of the difference in what happens with John and Sarah and their home.

Up | What Is a Short Sale? | Your Options | SFR Resource | Short Sales Vs Foreclosures | Short Sale Process | Short Sale Example | Hardships | Foreclosure Timeline | Loan Modification | Definition of Terms