Short Sales Riverside
How many of the houses for sale in Riverside CA are short sales?
As of 3/24/2010 in Riverside CA
1087 active listings on the local multiple listing service in Riverside CA.
- 477 of those are short sales (44% of all the listings are short sales Riverside)
1269 pending listings in Riverside CA
- 700 of those are short sales (55% of all the listings are short sales Riverside)
This photo is one of our current Corona short sale listings.
Click here to read more about the trends in short sales Riverside CA and foreclosures.
You may be asking "What options do I am unable to make my mortgage payments?" You may qualify for a broad range of help. Some solutions are:Short Sale
Forbearance Agreement
Loan Modification
Deed in Lieu of Foreclosure
What is a short sale?
Short sales occur when a homeowner sells their home for less than the amount owed to the lender.
How do I qualify for a short sale?
Homeowners need to prove to the lender that they are experiencing a financial hardship.
What is considered a hardship?
A hardship is a situation that has life-changing effects on the homeowner that results in their inability to pay their mortgage debt. Some examples are:
- divorce
- medical bills
- unemployment
- job relocation reduction of income
- death of spouse
How do i get help?
First and foremost, work with your lender to see if you can get a loan modification or forbearance and keep trying. If they won't agree to that then contact Pedersen Real Estate. We can talk with you more about the possibility of doing a short sale. We also have lots of helpful information posted throughout our website, http://Pedersen-Team.com.
How do I qualify for a Short Sale?
You must prove that a hardship exists and your lender must be willing to accept the short sale proceeds as full settlement of the debt. Short sales take a lot of work and patience but they are often a better option than losing your home through foreclosure. Attempting a short sale is a big decision and there may be financial and/or tax consequences that you need to be aware of. It is crucial that you consult with an attorney or tax accountant before making the decision to do a short sale or not.
Contact us if you are thinking of doing a short sales Riverside or if you have questions. You can reach Pedersen Real Estate at 951-840-5212 or 951-906-2852 or contact us by e-mail at vicki@pedersen-team.com or visit our website www.Pedersen-Team.com
Written and posted by Vicki Pedersen, Pedersen Real Estate, DRE# 01435175. Copyright ©2010 by Vicki Pedersen, All Rights Reserved. *Riverside CA Short Sales*
Comments(0)