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Bakersfield Short Sale Help Now
Bakersfield Short Sale Specialist
What is a real estate short sale in Bakersfield?
A quick sale in real estate, also commonly called a short sale, happens when a lender is willing to accept a lower pay off on a loan than what is currently owed due to the borrowers inability to continue making payments.
What does it take to qualify for a Bakersfield Short sale?
While lenders seem to be easier to work with lately regarding qualifications, there are usually three borrower qualifications that most lenders require for a Bakersfield short sale.
Negative Equity – The proceeds from the sale of the property, after all closing costsare paid, are less than the amount currently owed on the property, Financial Insolvency – Financial insolvency means that the borrower has no other assets that could cover the deficiency (the difference between what is owed on the property and the proceeds from the sale) Financial hardship – Financial hardships that are acceptable do vary some from lender to lender, but the most common ones are; divorce or legal separation, loss of employment or reduction in income, job transfer or relocation, incarceration, medical emergencies or major medical expenses, death of a family member, vacant rental properties, damaged property, just ... more
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