I recently found myself in the unfortunate situation of being underwater on the mortgage of my condo and unable to continue to afford the mortgage payments.
My real estate agent at the time suggested renting the unit to cover the cost each month until I was no longer underwater. I thought this was my only option at the time so I agreed and listed the condo for rent and quickly ended up reducing the listing price to the point where I’d be losing money each month if I was to secure a renter. To add to the loss, I’d also be responsible for maintaining the property and have heard numerous horror stories from other renters who had experienced tenants refusing to pay, drawn out evictions, and ongoing legal fees. As time went on it was clear that renting was no longer a viable option and I started seeking out alternatives.
A friend had asked if I considered a short sale, to be honest it was a topic I had no actual knowledge on but a ton of misconceptions. After doing some research online I decided anything was worth a shot but honestly wasn’t too hopeful.
I found Minna’s contact information while doing my research; her team is the best in the state when it comes to short sales. After my first phone call with Minna, there was no question in my mind that I was finally on the right track. She listened to my situation and clearly explained the short sale process, timeline and what to expect at every point in the process.
Within a month of having the unit listed Minna and her team had received an offer and quickly helped me move forward through the short sale process until the unit was closed on last week. What a burden they have helped me with, I can’t recommend them enough. I only wish I’d found them sooner.
Last Updated on September 13, 2017 by Minna Reid