New York short sale requires a unique set of skills for a real estate agent and the short sale approval can very much depend on how your agent negotiates with the lender and buyer. Our short sale team has a high success rate on approvals from the banks and closed short sales in New York City, Manhattan, Queens, Brooklyn, Bronx, Staten Island, NY. Bank approves short sales when they believe a hardship situation exists, however, hardship is not only determined by how much money a person earns but also it factors in a person's expenses, especially if expenses have increased and income has decreased.
A short sale is a real estate transaction where a homeowner is facing hardship and gets permission from a bank to sell their property for less than they owe on the mortgage. If your house in City of New York, NY is worth less than what you owe on the home loan, a short sale maybe your best alternative to foreclosure.
