Hollywood CA - In Hollywood Short Sales there is a temptation for some that find themselves upside down in a mortgage to simply walk away. That is, having purchased a home mid way through 2006 and now finding forty percent of that purchase price has disappeared in market value, some choose to say to the bank, "You take it, I'm done." They mail the bank the keys and say good bye.
There's another strategy to consider. Staying in your home for as long as possible. Let me explain.
Right now the national average in terms of living in your home for free is 461 days. That stat is thrown about as many different numbers, and I'm basing it on Google - right now - today. Based on the number of foreclosures that are cropping up, I'm guessing it's spot on. Would you be surprised to learn that lenders are taking 12 months and more to actually file the foreclosure? After filing, add another six to twelve months to the whole process based on the volume of the lien holder processing all of their short sales.
Here's the deal: Why move out as soon as you get behind your payments? Stay in your home, take care of it for the bank and also save the money you'd spend on rent.
You're thinking that after foreclosure you'll have to worry about the bank pursuing you for the money they lost, so you decide to walk. Would you like to reduce the side effects?
Would it surprise you to know you can with a short sale? Firstly, on 80-90% of Hollywood short sales, you won't pay any money back to the lender. Secondly, you'll be eligible to get another loan through FHA in two to three years versus having to wait five to seven years with a foreclosure on your credit. And thirdly, the short sale doesn't cost you anything.
When your home does sell, your bank will pay us our commission. Lenders understand that they get more cash from Hollywood short sales than from foreclosure sales. This is why lenders will pay all the costs associated with the sale.
I'll show you how you can short sale your house and not pay the lender a cent. Send me an e-mail at Vincemceveety@gmail.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (310) 272-4935.
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about the loan modification option? Our Hollywood Loan Modification Kit has all the instructions you need to get a loan modification approved with your lender. Click here to request a copy.
Thanks for reading this, Vincent McEveety. Vincent is a Real Estate Agent at Keller Williams Realty Larchmont .
Phone: (310) 272-4935. Vincemceveety@gmail.com.
View My homes for sale at www.FindingTheHomeBeautiful.com
Vincent McEveety specializes in loan modification assistance and short sales in Hollywood California. Hollywood Loan Modification Help, Hollywood Short Sales. Hollywood Short Sale Realtor. Short Sale Realtor. Hollywood CA Short Sales. Hollywood Lofts. Hollywood Realtor.
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