Mercer Island Condos For Sale
Are you thinking to sell your Mercer Island condos or interested in buying Mercer Island townhomes? Ask our Mercer Island real estate agents for showing luxury short sale homes for sale in Mercer Island, WA. Mercer Island real estate offers many options to home buyers from downtown condos to high priced luxury waterfront Mercer Island houses. We also have great foreclosed condos and townhomes that are not on the Mercer Island real estate listings, yet!
Mercer Island Short Sale
Short Sale is bascially banks allow homeowners to sell their properties for less than what is owed. For example, if you owe $460,000 and are 2 months behind on your mortgage payments and your home in Mercer Island is worth only $300,000 today. You gets an offer from a buyer and negotiate with your bank, and get the forgive of the difference. It sounds like an easy process but, actually it's NOT. It is a difficult process. We want you to be aware that not every Mercer Island realtors and real estate agents are short sale specialists. Whether you are buying or selling your Mercer Island house in a short sale, make sure our Mercer Island short sale experts.
Our Mercer Island Short Sale Specialists will help you to close a Successful Short Sale in Mercer Island and Bellevue, WA!
Restaurants in Mercer Island
Cellar 46 Degrees - American
The restaurant is a neighborhood favorite, and offers a casual, friendly dining atmosphere that you and your friends are sure to enjoy. Be sure to ask your server about new selections, daily specials, and special chef's creations.
+ Seattle Magazine - Best place to try northwest wines. 2009 Award for best wine list. + 7650 SE 27th St #120, Mercer Island, WA 98040 | (206) 407-3016
Mo's Pizza - Italian, Pizza
Specialize in delicious and reasonably priced cuisine, including house specialties and other customer favorites. Cuisine entrees are served in a relaxed and welcoming setting that you and your friends and family are sure to enjoy. + 2630 77th Ave. SE, Mercer Island, WA 98040 | (206) 236-6000
I Love Pho - Asian | Vietnamese
Provides a unique, quick, and casual dining experience for those who crave Vietnamese cuisine. As our name indicates, PHO is our specialty and the key is in the fragrant and healthy broth, which we make daily from the freshest ingredients. But our menu extends beyond the ever popular pho. We offer many traditional appetizers, rice dishes, vermicelli bowls, and other staples of Vietnamese cuisine. + 7605 SE 27th SE, Mercer Island, WA 98040 | (206) 275-4300
Mercer Island Short Sale FAQs
Q. What are the Consequences of a Short Sale?
1) Potential IRS tax consequences associated with the debt forgiven in a short sale.
2) Deficiency Judgement: The Lender has right to pursue a summary Judgement for the deficincy. *Without help of a good attorney or a loss midigation mitigation company, this is more likely to happen.
3) Blemished Credit Record.
Q. Impact on Credit - Short Sale vs. Foreclosure?
A. Short Sales are considered preferable to foreclosures because short sale (1) lessen the impact a foreclosure can have on the surrounding community and (2) won't damage the distressed your credit as much as a foreclosure. For instance, if you are still current with other payments, a short sale may lower your credit score by as little as 50 points.
3 Reasons to Avoid Foreclosure in Mercer Island
1. Foreclosure Follows You You will always to disclose that you have had a foreclosure on any mortgage application as well as many job applications. This can have an adverse affect on your future mortgage rates. This is a credit item that is asked about specifically in credit inquiries. There is no 7 year time limit on this item.
2. Credit Score Negative Impact Your Credit Score will be lowered by 300+ points. Among with bankruptcy, a foreclosre is one of the most devastating credit issues you can have in realtion to future credit availability.
3. Possibility of Deficiency Judgment Your lender can seek a deficiency judgment against you and collect any amount they do not recuperate at the bank sale.
