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. Â Â Get this Â
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.
Â 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.Â 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.Â Â 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. Â The question you need to ask yourself is which process makes the best sense for me?Â Â Â Just like anything else there are exceptions to the rule.Â Â Â If you are upside down on your home and are facing a foreclosure situation and you don't know what to do?Â Â Â
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Â 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! Â I would like to help you get the relief you deserve. Â