Las Vegas Short Sale Agent closes Bank of America Short Sale and Saves Homeowner from Bankruptcy

LAS VEGAS, Dec. 17, 2012 /PRNewswire/ -- Las Vegas short sale agent, Tania Michaels of Focus Commercial Group, has closed a Bank of America short sale that saved a homeowner from filing a Chapter 13 bankruptcy.  A Chapter 13 bankruptcy would have required the homeowner to make monthly payments on the remaining balance of the mortgage.  "The homeowner would have been making monthly payments on the debt of a house they didn't even live in anymore," says Michaels.

Laws passed in recent years have made it more difficult to obtain approval for a Chapter 7 bankruptcy which allows for total elimination of debt. Many homeowners are not aware that even if they do not qualify for bankruptcy, a short sale can still be an option. On a short sale, the mortgage company can forgive the balance of the mortgage and repayment is not required.  In Las Vegas, that amount typically ranges from $100,000 to $300,000.

Michaels has developed a quick, online survey that provides answers right away on whether or not a borrower might qualify for a short sale.  The tool is accessible from her website at:  http://MichaelsRealEstate.com/HAFA

"For homeowners who are facing a foreclosure, a short sale is an option which can save a person from overwhelming debt, get them some cash back and help avoid a very bad hit to their credit," says Michaels.

Homeowners who are behind on their payments are often not aware of the benefits of a short sale. Short sales are being used to solve immediate problems and for establishing the foundation to obtain a better interest rate on a future mortgage.

Tania Michaels is a Las Vegas CDPE® certified short sale agent.  A CDPE® is knowledgeable of the entire landscape of foreclosure avoidance options and is distinctly qualified to negotiate with banks and help struggling homeowners regain peace of mind and a sense of stability for the future.  

"Once homeowners stop making their payment," says Michaels, "they often think it is too late to take advantage of a short sale. Nothing could be further from the truth."  For more information on Las Vegas short sales, please visit http://MichaelsRealEstate.com/nevada-short-sales/

Call 702-546-6432 to speak with a Las Vegas short sale agent.

ABOUT

Tania Michaels is a certified Las Vegas short sale agent.  Considered an expert short sale closer by her peers and colleagues, Las Vegas real estate owners may also benefit from her experience in the residential and land sector which allows her to offer insight from the vantage point of an all-around insider.

For legal or tax advice, homeowners should contact an attorney or a CPA.

Photo(s): http://www.prlog.org/12044032

SOURCE Michaels Real Estate Group, LLC