What is a Short Sale in San Diego, Ca.
A short sale is when a homeowner needs to sell their home, but there is either no equity or not enough to 
cover the costs. Homeowners who need to short sale may have lost a job, had their adjustable rate mortgage increase or some other hardship. The bank will need an explanation from the owner in order to determine if they qualify. Many homeowners may think that it's easy to just allow the bank to foreclose. The idea of selling their home is too overwhelming and they don't understand or even know the benefits.
Home Affordable Foreclosure Alternatives program for short Sales
In April of last year the government released a new program to help homeowners who need to sell but don't have enough equity - short sales. The program was a direct response to the growing number of homeowners who may be headed toward foreclosure. Many owners when faced with these dire circumstances are overwhelmed with the idea of losing their home. It's not only the idea of losing their home but having to find another place to live. The Home Affordable Foreclosure Alternatives ( HAFA) program directly addresses many of these worries.
- HAFA makes the short sale processes quicker. In the past many short sales took up to a year and sometimes longer for the bank to respond and approve a buyer. Streamlining the process insures that the buyer will not walk away and that the homeowner can move on with their lives.
- Homeowners are fully released from future liability for their first mortgage. In the past lenders could sue - not any more.
- HAFA allows for a $3000 relocation assistance payment to short sale homeowners. Now, while the home is in escrow homeowners can complete a rental application and a have the money needed to pay for the deposit and first months rent.
- Homeowners are allowed to choose their own agent. I have a partnership with the largest San Diego based short sale attorney group. They have successfully closed thousands of short sale transactions and they negotiate directly with the bank at no cost to the homeowner.
You can short sale your home, save your credit, get $3,000 to relocate and recover from the nightmare of overwhelming mortgage payments. A short sale does not cost you anything and the benefits are considerable. If you are in need of a short sale, Act now and we will begin the process to help you. I work with a team of short sale attorneys who have processed hundreds of short sales successfully and at no cost to either the buyer or the agents.
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Janet McCarthy
Keller Williams Realty
858-243-5719
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