Keji & Associates of Fairfax Realty a Real Estate Team Just Listed another Short Sale in Lanham

LANHAM, Md. - July 13, 2015 - PRLog -- Keji & Associates of Fairfax Realty, Inc  is working hard to close out as many short sales as possible before the Mortgage Forgiveness Debt Relief Act expires on December 31st of this year.

Keji & Associates of Fairfax Realty  are experienced team of the top short sale specialists in Bowie

A short sale is a sale of real estate in which the proceeds from selling the property will fall short of the balance of debts secured by liens against the property. In addition, the property owner cannot afford or chooses not to repay the liens full amounts.

Therefore, the lien holders agree to release their lien on the real estate and accept less than the amount owed on the debt. Any unpaid balance owed to the creditors is known as a deficiency.

With foreclosures on the rise in the US, banks are looking for any way they can to minimize their foreclosure losses. Basically, it is much more cost effective for a bank to agree to a short sale rather than foreclose on a home.

Banks aren’t in the business of owning real estate and collecting monthly mortgage payments, so a bank will take a minor loss in a short sale to start that payment cycle again.

In addition, if the home is in foreclosure, a bank must pay for upkeep, insurance, and other costs.  Plus, through the foreclosure process, the bank would incur legal and court fees.

Keji & Associates of Fairfax Realty, Lead by Keji Ogunleye , Specializes in Distressed Properties. A Bowie homeowner  Contact Keji & Associates Team to decide if a short sale is right for them or use the online calculator to determine their next possible plan of action.

Call today to speak with one of our top Short Sale Agents.

301-613-2043

www.metrohomesrealty.com

Keji & Associates of Fairfax Realty, Inc

10210 Greenbelt Rd #120, Lanham, MD 20706