American society and lending practices revolve around the concept that we want people to take risks. Society as a whole benefits when people invest in real estate. Sometimes those risks don’t pay off, and that is okay.
Our society is structured so that you aren’t penalized if your real estate purchase didn’t work out. The only real penalty is often just a reduction in your credit score for a period of time and then a fresh start. Our society needs risk takers and investors.
If you find yourself in a position where you are behind on your payments or your property is no longer worth the amount you borrowed against, you are no doubt experiencing a great amount of stress. At LuXre Realty, we appreciate your situation and we understand how the market or your personal circumstances can sometimes change unexpectedly. LuXre Realty is here to help, primarily by negotiating with your lender(s) to sell the property for less than what you owe. This process is known as a “Short Sale”.