Are You Having Trouble Making Your Mortgage Payments?
I have created a short sale guide to help you understand the possible solutions to foreclosure, as well as provided a detailed explanation of short sales, which may be the best course of action for some homeowners.
While you might feel embarrassed about your situation, please realize you aren't alone. According to RealtyTrac, one in every 138 households in the U.S. either received a notice of default or went into repossession during the first 3 months of 2010. And in California, it's one in 62 households. It's not you, it's this economy.
Even if you have received a notice of default, you do have some time and you do have some choices. Foreclosure can be avoided, your credit can be saved, and your financial future can be salvaged.
You Can STOP Foreclosure through a Short Sale
If you owe too much to sell at current market value, a Short Sale could be the best option for you. You list and sell the house for the current fair market value and walk away with no money, but a fresh start. At least, that's what will happen if you list the house with an agent who is experienced in handling successful short sales.
Right now, a new government program is in place to streamline this process and even put a few dollars in your pocket to help with relocation. Whether you qualify depends upon the kind of loan you have and your current income. That's just one of the many details your experienced real estate agent will check for you.
Unfortunately, many real estate agents today don't have experience. They're listing short sale properties without first realizing that these listings cannot be handled the same as non-distressed listings - and their sellers are paying a heavy price for that lack of knowledge.
If you would like to know more about your options, simply call me at 310-626-5078 or write me at Teresa@SouthBayLivin.com. I am here to help...in any way I can.
Short Sales and Foreclosure Resource Certified