Is A Short Sale For Me?
Who benefits from a short sale?
Sellers avoid foreclosure and protect their credit from the harder hit of foreclosure.
Buyers receive a good price on the home.
Lenders avoid a costly foreclosure. The potential loss from a foreclosure is typically higher than a loss from a short sale.
How it works
Say you owe $200,000 on your home and can no longer make the mortgage payments. One option is to refinance your home and secure a lower payment based on a longer-term or better interest rate. But if your property has lost value due to local market conditions (say it would sell for only $150,000), refinancing isn't feasible. If the bank agrees to a sale at $150,000, it's called a short sale. Although short sales have become more common in recent years, banks don't always grant them. In general, they approve short sales in these situations:- Seller has a hardship (such as divorce, bankruptcy, unemployment, job relocation).
- Seller owes more on the mortgage than the home's current market value.
- A mortgage is in or near default status.
- Seller has no assets.
- However, different banks and lenders have different requirements. So sellers should discuss the short sale option with their lender.
- Short sales can present a great deal for buyers. But the process is a bit more complicated than a normal home purchase, and it will take patience.
Get In Touch
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Local Expert Updates
Brooke Jones
Cell: 641.420.2172
Matt Lippon
Cell: 712.330.0604
Aaron Jones
Cell: 712.320.9442
Janie Eick
Cell: 712.339.0574Community Updates
Ranch Okoboji
Ranch Okoboji has something for everyone. The ever popular mini golf course in Okoboji is a fun Wizard of Oz theme. They also have Tyotee's Mining, which is a fun little adventure for kids to mine gemstones, arrowheads, and fossils! For the adults, they have a margarita bar, with tons of flavors, all made with their own secret recipe! Once you're done with whichever adventure you choose at the Ranch, don't forget to shop at their little boutique area, with home decor, outdoor decor, and their extensive collection of flags!
Okoboji Community School District
Welcome! Okoboji Community School District is a place where we are Pioneering Pathways for Every Student. Okoboji has so much to offer all students: high academic standards, strong athletic and fine arts programs, and much more. This community should feel Proud to Be piONEers who are Outstanding and Optimistic and encourage Opportunity for ALL.
If you are new to the district, we look forward to providing your children with a challenging education from teachers who build academic competence, encourage innovation and collaboration, and teach with passion in an atmosphere where students are valued, celebrated, and challenged.
We are so thankful for the many parents involved in Pioneer Parents and other organizations that are engaged with our children’s education. It is our hope you will be an “all in” parent/guardian/community member/community leader for your child and every child in our district. It is “Team Okoboji.”
To learn more about the Okoboji Community District, please call 712-338-4757. We are committed to keeping our kids safe and giving them our very best.
Thank you for your support!
- Todd A. Abrahamson, Superintendent
Check out these You Tube videos:
https://www.youtube.com/watch?v=S4E8vyEcqsQ&index=1&list=PLgY3oyulYPWoBiQcIm5A-273dr2fDJRhp
https://www.youtube.com/watch?v=qXTeIuB-72c&index=2&list=PLgY3oyulYPWoBiQcIm5A-273dr2fDJRhp
Iowa Rock 'n' Roll Music Association
The Iowa Rock 'n' Roll Music Association is a state-wide nonprofit dedicated to preserving the legacy of rock 'n' roll and the history of music in the state of Iowa. The museum opened in 2003. The museum allows visitors to discover the history of music within the state of Iowa. They also have the Iowa Rock 'n' Roll Hall of Fame. All the inductees for the year are announced in January. Over labor day weekend in Arnolds Park there is a celebration with a ceremony introducing the inductees and also a concert.