Home Selling in Victorville>Question Details

Desperate Mo…, Home Seller in Victorville, CA

Does my house qualify for a short sale if I have a 2nd attached?

Asked by Desperate Mom/wife, Victorville, CA Tue Oct 27, 2009

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Not quite sure what you mean by second attatched but if you mean a second loan, then yes you can still do a short sale. If you want some more in depth answers to your question please call me at 562-818-2671 or email at Johnv@kw.com. Also I have a great Questions & Answers page on my website for short sales at http://www.vgrouphomes.com/atj/user/AdditionalGetAction.do?p…

John & Sarena Villaescusa
Cell- 562-818-2671
Email- Johnv@kw.com
Website- http://www.VGroupHomes.com
Web Reference: http://www.VGroupHomes.com
0 votes Thank Flag Link Tue Oct 27, 2009
You CAN get a short sale approved if you have a 2nd lien. You could even get a short sale approved having 3 loans. I've closed them before.

Ultimately it's about showing the bank what they're going to NET, with a buyer's offer & showing them that they will make MORE now, by taking an offer for short sale than if they just let it go to foreclosure.

You CAN get this done, you need a good agent working for you. Not any ole' agent is good at doing short sales. I work with homeowners in Southern California & in Las Vegas, although I live in SoCal. Many of my clients are far away from where I live & then the bank is in Texas or New York, ultimately it doesn't matter where the listing agent is, so long as they're good at negotiating with the banks to get them to approve your deal.

There is a light at the end of the tunnel too, you will qualify to buy again in just 2yrs with an FHA loan & 3.5-5% down, you can get back into the market at the bottom at build your equity back up again!

please let me know if you have any questions.
0 votes Thank Flag Link Tue Oct 27, 2009
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