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Follow on Google News | Another Short Sale In Nevada Closed By The Ballen Group Of Keller Williams Las VegasThe Ballen Group closes another Short Sale in Las Vegas with NO Deficiency to the Seller at Closing.
By: The Ballen Group The Ballen Group just closed a Short Sale with a property on the street: Elm Creek. There was one Lien Holder. The property was listed for $50,000 and sold for $60,000 where the Seller received an approval letter with no deficiency language at closing. Many Las Vegas mortgages now exceed the fair market value of the home. Negative equity has become an increasing problem for the nation, but is excessive in Las Vegas. With the prices of Las Vegas homes decreasing, and the interest rates on previous subprime loans increasing, many Las Vegas home sellers have no choice but to negotiate with the bank to take less (also known as a “short”) on the sale of the property. The seller proves a hardship to the bank which could include divorce, loss of income, health issues and other various situations proving the monthly mortgage payments are impossible for the homeowner to pay. The home owner hires a Real Estate agent, such as The Ballen Group, Short Sale Agents to sell their home and negotiate the sale with the bank. The Ballen Group offers a tool called The Short Sale Or Stay Calculator. This tool can be used to help a Homeowner in Nevada receive an instant estimate on what their home is worth in Nevada. They can enter their mortgage payoff and use this math to decide whether to consider a Las Vegas Short Sale or Stay. This tool can be found at http://www.shortsaleorstaymath.com The Ballen Group is an award winning team specializing in Distressed properties - specifically Las Vegas Short Sales as well as residential real estate in Las Vegas, North Las Vegas, and Henderson. Reach The Ballen Group at 702-482-7739. End
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