Top 5 Reasons doing a short sale is now easier than ever.

By
Real Estate Broker/Owner with One Point Plus Real Estate CA BRE# 01366391

Top 5 Reasons doing a short sale is now easier than ever.

short sale easy

  1. Banks are now pre-approving short sales. Yes its true! You will actually get your Price approved before your home gets listed. Then all you need to do is get the home under contract and close escrow quickly.
  2. Banks are paying some distressed sellers to sell their home as SHORT SALES rather than Foreclose. Some banks will compensate sellers as much as $30,000 to cooperate with short sales.
  3. Banks will pay for seller closing costs. Sellers can virtually complete the short sale with no out of pocket costs. This is a huge relief to cash poor sellers that are behind on their mortgages.
  4. Debt Forgiveness. With the extension of the Mortgage Forgiveness Debt Relief Act, sellers will, will, for one more year, exempt the taxation of mortgage debt that is forgiven when homeowners and their mortgage lenders negotiate a short sale or loan modification (including any principal reduction). Sellers in CA can take comfort that C.A.R. is sponsoring SB30 which will conform state law to federal law regarding Mortgage Forgiveness.
  5. You can buy a home again in as little as 2 years. This is a big consideration as opposed to a 7 year wait when you allow your home to go into Foreclosure. Foreclosures remain on your public record for 7 years. Short Sales are not reported on a persons credit history. FHA – If current at the close of short sale, a homeowner may apply for an FHA loan immediately. If homeowner is late before close of short sale closing, will be eligible for FHA loan after 3 years.

short-sale help 1

If you or someone you know is in danger of losing their home to foreclosure...Contact Me Today!

Jesse Madison 949-306-8416

jmadison.realtor@gmail.com

Certifications:

CDPE, Certified Distressed Property Expert

SFR® Certified, Short Sales and Foreclosure Resource

Short Sale Help is here. Serving All Orange County Communities and surrounding areas:

Irvine, Laguna Niguel, Foothill Ranch, Huntington Beach, Capistrano Beach, Corona Del Mar, Dana Point, Lake Forest, Laguna Woods, Laguna Beach, Laguna Hills, Aliso Viejo, Newport Coast, , San Clemente, Trabuco Canyon, Rancho Santa Margarita, Mission Viejo, Ladera Ranch, Tustin, Villa Park, Costa Mesa, Orange, Anaheim, Garden Grove, Yorba Linda, Corona, Fountain Valley, Placentia, Chino, Portola Hills, Chino Hills, Norco, Whittier, Buena Park, La Palma, Cypress, La Habra, La Mirada, Stanton, Artesia, Lakewood, Los Alamitos, Seal Beach, Sunset Beach, Surfside, Mira Loma, Ontario, Diamond Bar, Camp Pendleton, Fallbrook, Riverside, Lake Elsinore, Murrieta, Perris, Menifee, Sun City, Temecula, Wildomar, Irvine, Huntington Beach, Laguna Niguel, El Toro, Foothill Ranch, Capistrano Beach, East Irvine, Midway City, Newport Beach, San Juan Capistrano, Silverado, Westminster, Ladera Ranch, Santa Ana,Atwood, Brea, Fullerton, Norco and more!

 

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I hope you'll join the conversation with us!

JMadison.Realtor@gmail.com 949-306-8416

Jesse Madison, Broker/ Owner

Orange County, CA 

 

 

 

Comments (1)

Kathy Stoltman
Balboa Real Estate - Ventura, CA
Ventura County Real Estate Consultant 805-746-1793

Jesse, any home owner that is experiencing some form of financial hardship should always consider short selling their home vs just letting it go back to the bank for all the reasons you have listed above.

Jan 14, 2013 08:22 AM