Many homeowners in the Wilmington NC real estate marketplace are finding themselves with a mortgage balance higher than they can even sell their home for. This puts the seller in a “short sale” situation. This means that the lender may agree to accept less than is actually owed on the property.  And, not all lenders will agree to accept less than what is actually owed, especially if you are not in default.  If you find yourself in this situation, you need a qualified real estate professional to guide you through this process. It is not an easy one, trust me. We will assist you in putting together a hardship package for the lender that may include a financial statement, hardship letter, bank statements, income statements, an appraisal on the property and even a listing agreement to prove that the property is on the market.

If you are in need of assistance, please do not hesitate to call or email kay@cbbaker.com. We are happy to answer any questions you may have concerning short sales and foreclosures in Wilmington, NC. And, if you are a buyer, we can send you a list of short sales and foreclosures, or you can search short sales and foreclosures.