Champaign Illinois Real Estate
Short Sale Information
Champaign Illinois real estate - Short Sales
Maybe short sales should be called long sales because they do not happen quickly.
Champaign Illinois Real Estate buyers need to be aware of that if they are interested in pursuing the purchase of a short sale.
Many times, short sale purchases can take a considerable amount of time to complete. The lender that is holding the mortgage can take as long as weeks or months to respond to an offer, which means that as the Champaign Real Estate buyer you will need to be very patient.
Does this mean that you should shy away from short sales?
Champaign Illinois Real Estate - Short Sales In Champaign
While this is a situation that most people do not want to ever want to be involved in, it is a potential solution. Short sales can help people who have found themselves in a position of not being able to afford there current home.
The good thing about a short sale vs foreclosure is the opportunity to do less damage to your credit. Normally, foreclosures will negatively affect your credit up to 7-10 years. Short sales are not as severe on your credit and take considerably less time to repair. Sometimes the lender will forgive the difference from what you owe to what they wrote down the loan.
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Steve and Rhonda Littlefield
Littlefield Homes
Keller Williams Realty821 South Neil Street
Champaign, IL 61820
Direct (217) 239-7223
Fax (217) 356-6116
Ofc (217) 469-9500
Cell(217) 202-7950