A reader from my Homebuying website at About.com sent me this graphic, along with several others showing more closeup images of foreclosures in various cities. They didn't all use the same "close up" so I didn't include them. That would be misleading to show a graphic enlarged 200% versus 100%. But still, that's a lot of foreclosures in the Sacramento area. This map is indicative of 1 in 9.
If you are headed toward foreclosure, you might want to call a Sacramento short sale agent for help. Nothing beats getting legal and tax advice as those are two areas an agent cannot address. But a short sale agent in Sacramento who specializes can be invaluable to you. Be sure to choose an agent who has closed at least 100 short sales. There are very, very few of us like that. But the more short sales we close, the more we know about each bank and the problems that can come up. I've been closing Sacramento short sales for 6 years.
When I assess a potential seller for a short sale, I can accurately predict most of the time which way that short sale will go. I know how long it will take, and the type of short sale the seller should pursue. There are many types of short sales. Due to SB 458, a bank can no longer require a seller to make a contribution and the bank must release the seller from liability. If you qualify for a HAFA short sale, you might get a relocation payment of up to $3,000.
The best way to do a short sale is to begin the complete short sale process just as soon as you think you might not be able to make your mortgage payment. But even if the Notice of Default is filed, it is generally not too late. If you're looking for a Sacramento short sale agent, call Elizabeth Weintraub at 916 233 6759 or, even better, shoot me an email. My email address is elizabeth at golyon.com. If I can't help you for some reason, I'll point you in the direction of somebody who can.
Image compiled at Google, creator unknown.
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