Investigating pre-foreclosure home selling regulations in Alaska

Find a real estate agent specializing in pre-foreclosure home selling regulations in Alaska.

If you have financial difficulty and realize that foreclosure on your Alaska home is eminent, a good first step is investigating pre-foreclosure home selling regulations Alaska.

While you can attempt a traditional sale, a short sale might be an option in a slow market. Alaska pre-foreclosure home sales regulations are similar to rules in other states. The most common form of pre-foreclosure sale allowed in Alaska is a short sale.

Short sales allow you to sell your home for less than you owe on it. Lenders must approve each seller prior to short sale. You'll be required to show that the short sale is the only viable option to avoid a foreclosure. For example, to list a home as a short sale, the house must have been previously listed as a traditional sale. Lenders may also require that your mortgage be current. And, there is a chance that a lender will agree to a short sale but refuse to waive their rights to collect on a deficiency judgment. This means the lender wants the difference between the sale price and the amount actually owed on the home loan.

QualitySmith can help you find real estate agents and brokers who specialize in the sale of Alaska homes in pre-foreclosure and listing a home as a short sale. Also, if the home was purchased through a governmental agency program such as Fannie Mae or Freddie Mac, these underwriters have special programs for pre-foreclosure listings.

Listing your home in more places will improve the odds that you will attract an interested, qualified buyer. Include professional-looking photos as often as possible. Prior to taking photos, make sure each room is devoid of clutter, neat and clean.

One of the Alaska pre-foreclosure home sales regulations is to take each offer to your lender. This can be a long process. Lenders are not required to render a decision in a certain time period, so it could take months for a lender to decide to approve the short sale. Although there’s a risk the lender won’t approve a short sale, pre-foreclosure home selling regulations in Alaska do favor the seller. Let QualitySmith assist you with the home selling process, so you may hopefully avoid foreclosure altogether.