Is It Possible to Complete a Short Sale After Going Through Bankruptcy?

Posted on Jan 2, 2012 in Roseville and Sacramento Short Sale FAQs

Hi, I’m Mark Peek here with Keller Williams Real Estate. We are one of Roseville and Sacramento’s short sale specialists. Have you completed a bankruptcy with your residence or are you considering just letting the house go to foreclosure? You may or may not be aware that you can actually complete a short sale after completing a bankruptcy. You may be wondering what the benefits to doing that are. Well, if you already have a bankruptcy ding on your credit, the next worse thing is getting a foreclosure ding on your credit.

So, it is possible for you to avoid that and the bank will usually do a short sale with you. The benefits are that I may be able to buy you some more time in the house even after the bankruptcy is discharged. If you happen to have a trustee sale coming up, or a foreclosure date, the bank may be willing to work with us and postpone that sale for an opportunity to do a short sale on the property. A short sale will net the lien holder a lot more money in the end, so they are usually pretty supportive.

So, if you completed a chapter 7 or chapter 13 bankruptcy, or if you’re considering letting the home go to foreclosure, give me a call so we can discuss your options. You can also hit the start here now button at the top of the page and I’d be happy to answer your questions. Again, I’m Mark Peek with Keller Williams Real Estate, one of Roseville and Sacramento’s short sale specialists. We’re here to help you choose the right option for your family. Thanks and have a great day.

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