Short Sales Are Getting Easier.
Some good news finally about short sales. Especially if you are facing foreclosure. There is word that a couple of banks here in California are going to make it very easy for you to poosibly short sell your home if you are even facing a possible crisis.
Get this
- They will release you from defiency.
- They will help with relocation costs.
- They can postpone a "Trust Deed Sale" with an offer (need a 24-48 hour notice) .
- The seller does not need to be behind in payments ( the bank would perfer you are not behind).
- No hardship letter required.
- The bank will send a negotiator to your home and approve the sale in 15 minutes.
- Once the the offer is approved escrow is opened and the bank wants to close in 30 days ( NOT 6 months to NEVER!!!). This is big!!
- There is no cost to you, the bank pays the commissions.
Getting a short sale done is less costly to you. Most people believe that letting the bank foreclose will not hut them or will have the least affect on their credit.
A foreclosure will in most cases keep a home buyer out of the market for up to 7 years and hit their FICO or credit scores as much as 300 points.
A short sale on the other hand will keep a home buyer out of the market for 2 years and nick their FICO 60-80 points.
The question you need to ask yourself is which process makes the best sense for me?
Just like anything else there are exceptions to the rule.
If you are upside down on your home and are facing a foreclosure situation and you don't know what to do?
OR
Would you like to find out if you qualify for this and see if your bank is one of those participating in this program? Please contact me ASAP!
I would like to help you get the relief you deserve.