Bank Short Sale Corona California
The right Corona short sale agents can short sale your Corona house. While a foreclosure essentially lets you walk away from your Corona home (albeit with grave consequences for your financial future, such as having to declare bankruptcy and destroying your credit), know that completing a short sale can be labor-intensive.
However, the payoff for the extra work involved in a short sale may be worth it. Before beginning the short sale process, consider the likelihood that your lender will want to work with you on a short sale by understanding its perspective.
The lender is not required to do a short sale; it will be allowed at the lender’s discretion. Make sure that the source of your financial trouble is legitimate, such as a health problem, the loss of a job or a divorce, etc. The reason you are no longer able to afford the home should not be something problematic about your financial situation that you did not disclose when you originally applied for the loan. The lender won’t be sympathetic to a dishonest borrower.
Also, be aware of other circumstances that may prevent the lender from wanting to do a short sale on your Corona home. Unfortunately, if you are not actually in default on your mortgage payments yet, some lenders may not be willing to work with you, even if you see the default clearly coming.
Also, if your lender thinks it can get more money from foreclosing on your home than from allowing a short sale, again, the lender may not allow you to exercise the short sale option.
But short sales in Corona and all over California have become more streamlined and less painless to accomplish as long as you have a competent and experienced professional in your corner.
If you think your situation is ripe for a short sale, let’s talk about your unique situation. We respect your privacy and will only give you our experienced, professional advice about the likelihood of a short sale of your Corona home.
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