Wednesday, June 01, 2011

St George Short Sales and the Ethical Basis to Pursue One

When looking at pursuing a St George Short Sale, many candidates wonder about the right time, although for many it seems imminent because of the hardship in continuing to be able to make ones house payment.  There are also another distressed group whom are depleting family savings and perhaps job opportunities and family situations based off the idea of honoring their commitments on their mortgage.  I personally believe this to be the way I'd go with things in trying to honor my commitments.  Also, I delve into the personal ethical considerations involved in cases I look at and how to come up with a criteria that will help to judge cases where in we could help justify when it could be a right time to do a short sale.  Basically, on my St George Real Estate website I detail three ethical consideration criteria on when I personally think a short sale could be the ethically correct or the right thing to do and these items could be taken in tandem with each other.
  1. When it is financially impossible to make the house payment anymore or there is considerable financial strain.
  2. When it is causing a troubled family situation based on economic duress.
  3. The situation is becoming more and more unrecoverable.
I cite an example of an actual St George Utah Real Estate case example to help demonstrate some of these criteria in practice.  My hope is that this will help the St George distressed homeowners who do not know regarding the ethical considerations as well as dilemma's involved for doing a St George short sale.


Dustin Hill said...

Short sales can be worth it at times. My sister had to short sale a home recently. It worked out alright because she got a decent amount for it and moved a couple times within a year. Having those house payments would have been really difficult.

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