SAN RAMON, Calif.--(BUSINESS WIRE)--In simple terms, a “short sale” is a real estate transaction in which a home seller’s mortgage lender agrees to accept a payoff that is less than the amount owed on the mortgage. Short sales are prevalent in most real estate markets today, and many home sellers, home buyers and real estate professionals are seeking to understand the in’s and out’s of short sale transactions. In response to that need, Old Republic Home Protection announces the launch of www.shortsalehomewarranty.com, a Web site designed to provide visitors with basic short sale information and direct them to additional educational resources.
The Website also outlines the benefits of including a home warranty in the short sale process. A home warranty reduces risk and liability for the seller of the property, and offers financial protection for the home buyer against potential malfunctions of aging and/or poorly maintained home systems and appliances. Home warranties also increase peace of mind by providing 24-7 claims service and access to qualified contractors – a very useful benefit for home owners who have relocated to a new neighborhood or an unfamiliar city.
Lorna Mello, vice president of Old Republic Home Protection, stated, “Navigating a short sale transaction is complicated at best, and is certainly no easy task. By helping to educate consumers and the real estate community about the short sale process, and the value a home warranty brings to distressed property transactions, we are truly able to put our company vision of ‘People Helping People’ into action!”
Visit www.shortsalehomewarranty.com for access to valuable information about all aspects of the short sale process, including IRS implications, credit consequences, and government programs (HAMP, HARP, HAFA) designed to assist struggling homeowners.
About Old Republic Home Protection
Product
A home warranty is a renewable service contract that repairs/replaces a home’s systems and appliances that fail due to normal use during the term of the contract. Optional coverage is also available to custom-fit coverage to the home. Please see your state-specific Plan for details of coverage.
History
Old Republic Home Protection has been a leader in the Home Warranty Industry since 1974, and is currently the third largest home warranty company in the nation. Founded as Dependable Home Warranty in California in 1974, Old Republic Home Protection began expanding beyond California in 1995 and now conducts business in 26 states nationwide.
For more information regarding Old Republic Home Protection, visit www.orhp.com.