LOMA LINDA SHORT SALE AGENTS HELP AVOID FORECLOSURE

By
Real Estate Broker/Owner with Garrigus Real Estate CalBRE# 01844442/01844441

LOMA LINDA SHORT SALE AGENTS HELP AVOID FORECLOSURE

Don't make the biggest mistake ever... Do not let the bank foreclose on your Loma Linda home!

Loan modification is a temporary fix and can still leave you with negative equity.

A BETTER SOLUTION IS TO SHORT SALE YOUR LOMA LINDA HOUSE

  • A short sale can let your deficiency be forgiven
  • In most cases a short sale can leave you with no tax liability
  • Our short sale real estate services are at no cost to you
  • And we can help you get out of your bad situation

Don't be fooled! The bank will come after you and foreclose your Loma Linda house. They may even be able to get a judgment against you AFTER the foreclosure for the negative deficiency, which could be tens of thousands of dollars! But what is the difference between a foreclosure and a short sale? Here are your options of foreclosure vs. short sale:

CREDIT SCORE:

  • A foreclosure will slash your credit score as much as 250 points or more, and can affect your credit for a minimum of 5 years or more!!!
  • But a short sale only affects your credit score with the late or missed mortgage payments. The credit bureaus will report PAID or NEGOTIATED if you short sale.Your credit score will not be lowered as much with a short sale.

CREDIT HISTORY:

  • A foreclosure will remain as public recorded on your credit report for 10 years or more.
  • A short sale is not reported on a person's credit history. There is no specific SHORT SALE term and is most cases is reported as PAID, SETTLED or NEGOTIATED.

FUTURE MORTGAGE LOANS:

  • If your credit report contains a foreclosure, most home mortgage lending institutions will consider you ineligible to purchase for 5 years or more.
  • If you successfully negotiate a short sale of your Loma Linda property you may be eligible for a mortgage loan and purchase a new home in as little as 2 years.

DEFICIENCY JUDGMENTS:

  • Banks have the right to pursue a deficiency balance if your foreclosed loan was not a purchase money loan (If you received any money for anything other than the purchase of your house, also called a hard money loan).
  • In a successful short sale it may be possible to negotiate with the bank to release you of any deficiency balance and avoid any future judgments against you.

Need more information?

CALL US NOW:

1 (888) 9 LIST-IT

or (951) 490-3683

or click here: Listing Agent in Loma Linda CA

Posted by

Todd & Devona Garrigus

Broker / REALTORS®

951.490.3698 | Direct for Todd
951.490.3683 | Direct for Devona

www.GarrigusRealEstate.com
CalBRE# 01844442/01844441

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Re-Blogged By Re-Blogged At
Topic:
Real Estate Industry
Location:
California San Bernardino County Loma Linda Loma Linda University School Of Dentistry
Groups:
southern california real estate agents
Loma Linda CA Real Estate
Southern California Real Estate
Inland Empire CA Real Estate
California Short Sale Agents
Tags:
foreclosure vs short sale
loma linda short sale agents
listing agent in loma linda ca
short sale your loma linda house

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