Why is Short Sale the Solution?
Short sale is the solution for home owners who are not qualified for loan modification and are not able to afford their monthly payment. If their house value has depreciated too much and the home owners feel that it will take too much time for the value of the home to recover, they may choose short sale.
It is also a solution for the bank and the government. We already have a housing crisis. About 1 in 10 Californians with a home loan are now in default. How can we solve this problem more effectively? Short sale is by far the better option over foreclosure.
Benefits for Home Owners
No more worrying about your house debt
The bank is in the loan business. They are doing business to create a profit from loan interests. When they lose the money they loaned, of course, they will try to recover their loss. That's why a short sale specialist role is significantly important. Short sale is the best way to remove your debt without any deficiency judgment.
Usually the second lender loses much more than the first lender. Generally, the line of credit loan (equity loan) bank will try to recover their loss. They can put a deficiency judgment on home owners whether they do a short sale or a foreclosure.
However, Sam and his team have always been successful in removing any deficiency judgment and have helped home owners wipe out their debt through short sale. Sam has helped home owners to walk away from their home debts without any deficiency judgment or any obligation to pay back to the bank.
There is minimum damage to your credit
"A foreclosure has a much longer lasting impact on your credit score..."
A short sale will affect your credit score only to the extent of how many mortgage payments you have missed. It can take as little as 18 months to two years to rehabilitate your credit score after a short sale. Occasionally it is even possible to complete a short sale with a homeowner that has not missed a single mortgage payment.
A foreclosure has a much longer lasting impact on your credit score. In addition, should you apply for a mortgage years from now, they often ask on the application if you have ever been involved in a foreclosure. If at all possible, foreclosure is something home owners should always strive to avoid.
Home owners do not pay a dime for short sale services.
We take an initial consultation, collect financial information, and negotiate your loan with your lenders while we put your house on the market and find buyers. There is so much work involved in a Short Sale. Even one phone call to the lender usually takes an average of 30 minutes.
Our service is proven and guaranteed. But there is even better news! Our short sale service is absolutely free from beginning to end. We will negotiate with the bank for your debt. Our service is not limited by how many hours or how much we have spent. Our service continues until we have completed the short sale. All the service is FREE.
In contrast, when home owners choose bankruptcy over short sale, they have to pay an expensive lawyer's fee and spend a lot of time in court. When home owners decide on bankruptcy, their credit can be ruined for 7 years or longer. In contrast, a short sale damages credit for an average of 2 years. Short sale is by far the better option over bankruptcy or foreclosures.
Stay longer in your home.
If the home owners miss their mortgage payment on average 3 to 6 times, they will get a NOD (Notice of Default). NOD is the notification before the NOT (Notice of Trustee's sale). Generally, home owners receive a NOT (a foreclosure notice) 3 months after they get a NOD.
A short sale can postpone the NOT date. When the houses are under short sale, most of the banks are willing to postpone the NOT date. This means that home owners can stay longer in their home and save for their next rent. Keep in mind that home owners need extra funds to find a new home to move.
Guaranteed Short Sale – HAFA(Home Affordable Foreclosure Alternatives)
The Obama administration has tried to find a solution for the housing crisis. One of the best solutions they found is Short Sale. The government recommends Short Sale for troubled home owners because it believes that short sale causes minimum damage to our economy. On this basis, the government made the HAFA program.
Two major things benefiting home owners:
1. It is guaranteed to home owners that lenders will not pursue deficiency judgment on their lost loan amount after short sale of their home.
2. Home owners will have moving help up to $3000 from HAFA program.
Not every home owner qualifies for the HAFA program. It depends on their lender's investors or the home owner situation. The earlier you apply for this program, the better chance you have of being qualified for HAFA. It takes two to three months to get approved. Sam has helped many home owners apply for HAFA. You need to apply now.
Benefits for the Bank
The bank gets more benefits from a Short Sale than a foreclosure. A common saying is that banks are in the business of lending money and do not want to own real estate. When banks foreclose on a property, it is a long and expensive process and generally means holding the property in their inventory as a non-performing asset. Banks have a limit to the amount of non-performing assets they want to hold. Once this limit is exceeded, they have strong incentives to get rid of the properties at discount prices.
For a lender, agreeing to a short sale avoids many of the costs associated with the foreclosure process. Attorney's fees, delays from borrower bankruptcies, damage to the property, costs associated with resale, property tax, insurance, etc., must all be paid by the bank during a foreclosure. In a short sale scenario, the lender is able to cut its losses by getting rid of the property faster at a lower cost.
Benefits for the Government
The government recommends Short Sale because it is less harmful to our economy than other options. The government realizes short sale is one of the best solutions for struggling home owners. The government has even made a special incentive program to encourage home owners and banks to participate in Short Sale. One very aggressive program the government has started is HAFA (Home Affordable Foreclosure Alternatives)
Short sale is the solution for home owners who are not qualified for loan modification and are not able to afford their monthly payment. If their house value has depreciated too much and the home owners feel that it will take too much time for the value of the home to recover, they may choose short sale.
It is also a solution for the bank and the government. We already have a housing crisis. About 1 in 10 Californians with a home loan are now in default. How can we solve this problem more effectively? Short sale is by far the better option over foreclosure.
Benefits for Home Owners
No more worrying about your house debt
The bank is in the loan business. They are doing business to create a profit from loan interests. When they lose the money they loaned, of course, they will try to recover their loss. That's why a short sale specialist role is significantly important. Short sale is the best way to remove your debt without any deficiency judgment.
Usually the second lender loses much more than the first lender. Generally, the line of credit loan (equity loan) bank will try to recover their loss. They can put a deficiency judgment on home owners whether they do a short sale or a foreclosure.
However, Sam and his team have always been successful in removing any deficiency judgment and have helped home owners wipe out their debt through short sale. Sam has helped home owners to walk away from their home debts without any deficiency judgment or any obligation to pay back to the bank.
There is minimum damage to your credit
"A foreclosure has a much longer lasting impact on your credit score..."
A short sale will affect your credit score only to the extent of how many mortgage payments you have missed. It can take as little as 18 months to two years to rehabilitate your credit score after a short sale. Occasionally it is even possible to complete a short sale with a homeowner that has not missed a single mortgage payment.
A foreclosure has a much longer lasting impact on your credit score. In addition, should you apply for a mortgage years from now, they often ask on the application if you have ever been involved in a foreclosure. If at all possible, foreclosure is something home owners should always strive to avoid.
Home owners do not pay a dime for short sale services.
We take an initial consultation, collect financial information, and negotiate your loan with your lenders while we put your house on the market and find buyers. There is so much work involved in a Short Sale. Even one phone call to the lender usually takes an average of 30 minutes.
Our service is proven and guaranteed. But there is even better news! Our short sale service is absolutely free from beginning to end. We will negotiate with the bank for your debt. Our service is not limited by how many hours or how much we have spent. Our service continues until we have completed the short sale. All the service is FREE.
In contrast, when home owners choose bankruptcy over short sale, they have to pay an expensive lawyer's fee and spend a lot of time in court. When home owners decide on bankruptcy, their credit can be ruined for 7 years or longer. In contrast, a short sale damages credit for an average of 2 years. Short sale is by far the better option over bankruptcy or foreclosures.
Stay longer in your home.
If the home owners miss their mortgage payment on average 3 to 6 times, they will get a NOD (Notice of Default). NOD is the notification before the NOT (Notice of Trustee's sale). Generally, home owners receive a NOT (a foreclosure notice) 3 months after they get a NOD.
A short sale can postpone the NOT date. When the houses are under short sale, most of the banks are willing to postpone the NOT date. This means that home owners can stay longer in their home and save for their next rent. Keep in mind that home owners need extra funds to find a new home to move.
Guaranteed Short Sale – HAFA(Home Affordable Foreclosure Alternatives)
The Obama administration has tried to find a solution for the housing crisis. One of the best solutions they found is Short Sale. The government recommends Short Sale for troubled home owners because it believes that short sale causes minimum damage to our economy. On this basis, the government made the HAFA program.
Two major things benefiting home owners:
1. It is guaranteed to home owners that lenders will not pursue deficiency judgment on their lost loan amount after short sale of their home.
2. Home owners will have moving help up to $3000 from HAFA program.
Not every home owner qualifies for the HAFA program. It depends on their lender's investors or the home owner situation. The earlier you apply for this program, the better chance you have of being qualified for HAFA. It takes two to three months to get approved. Sam has helped many home owners apply for HAFA. You need to apply now.
Benefits for the Bank
The bank gets more benefits from a Short Sale than a foreclosure. A common saying is that banks are in the business of lending money and do not want to own real estate. When banks foreclose on a property, it is a long and expensive process and generally means holding the property in their inventory as a non-performing asset. Banks have a limit to the amount of non-performing assets they want to hold. Once this limit is exceeded, they have strong incentives to get rid of the properties at discount prices.
For a lender, agreeing to a short sale avoids many of the costs associated with the foreclosure process. Attorney's fees, delays from borrower bankruptcies, damage to the property, costs associated with resale, property tax, insurance, etc., must all be paid by the bank during a foreclosure. In a short sale scenario, the lender is able to cut its losses by getting rid of the property faster at a lower cost.
Benefits for the Government
The government recommends Short Sale because it is less harmful to our economy than other options. The government realizes short sale is one of the best solutions for struggling home owners. The government has even made a special incentive program to encourage home owners and banks to participate in Short Sale. One very aggressive program the government has started is HAFA (Home Affordable Foreclosure Alternatives)