Real estate is a tricky field, with plenty of room for error, miscalculation, or lack of luck. In the recent recession, many people lost their job or saw their income fall dramatically. This shortfall has caused budgets to strain and mortgage payments to become less consistent. Mortgages essentially operate as loans that are taken out against the value of a house—so if the payments are not made, one is at risk of forfeiting the collateral, the house itself. When mortgage payments build up, and they do so quickly, they can quickly become daunting. Mortgage payments that exceed the homeowners ability to pay back leave that individual or family with very few options. Existing options for individuals and families in these positions include a short sale.
It is extremely common these days to hear about real estate short sales. This an alternative to more drastic measures that many people have been forced to consider as of late. Indeed, the LA Times reported that since the subprime mortgage crisis broke out in 2008, there have been over 2.2 million short sales in the United States. This represents a massive uptick in the number of short sales largely because people in dire financial situations were left with few other options. This includes many thousands of homeowners in Houston, Texas. If you are like them, then you realize you might only have one option: to sell your house quickly.
Real estate short sales are pretty simple in theory—they are the sale of real estate properties when the proceeds are going to fall short of the balance of debts levied against the properties. In order for this to occur, the lien or debt holder must release the homeowner from the details of their contract and accept that they will receive less than the full amount that is owed on the debt. This is essentially an acknowledgment by all parties that the debts are not going to be paid in full. This means cutting your losses and agreeing to sell your house quickly instead of wasting money and energy on a cause that you cannot win.
A short sale allows you, the homeowner, to sell your house for cash. In the Houston, Texas, area, this has become a particularly common occurrence as people try to avoid more serious problems or ridiculous amounts of debt. If you believe the time has come to make a real estate short sale, and you want to sell your house quickly in the Houston, Texas, area, then getting into contact with FHG Interests is a great idea. FHG Interests is well equipped to handle real estate short sales for our clients. The professional staff working at FHG Interests have a great deal of experience in dealing with real estate short sales deals. Real estate short sales are not the ideal solution under any circumstances, but occasionally they are the best option in a bad situation. FHG Interests can help to make the process less difficult for the homeowner. We are aware of the confusion and uncertainty that surrounds these deals and how to speak to the concerns of clients who are having to resort to real estate short sales. Give us a chance to prove that we can make the entire process a lot more comfortable for you and sell your house quickly. Based out of Houston, Texas, FHG Interests goal is to increase the value of the local real estate market while helping homeowners, whatever their situation.