Orange County Short Sale Realtor, Orange County Homes, Orange County Realtor

Orange County Short Sale

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You May Have A Better Way Out!

What is a "Short Sale"?

In brief, a "short sale" is when lenders agree to take less than the total amount owed. The lender will allow the homeowner to list and sell their home understanding the net proceeds from the sale may be less than the total amount due on the mortgage.  Lenders are simply not in the real estate business, so a property in foreclosure is very costly to them.

They are willing to work with homeowners if they have a legitimate hardship.  They understand circumstances that might lead to your personal financial state.

In a Orange County short sale, the opposite occurs, since the owner is "upside down" the bank covers the closing costs.

Generally, during a sales transaction there is sufficient money to cover the seller's closing costs (commission, title charges, escrow fees, etc.) and to payoff any existing loans and/or liens of record - the owner owes less than what the house is worth, therefore generating a gain minus closing costs.

Do You Qualify?

• Do you have difficulty in meeting your monthly expenses?
• Do you not have enough money in the bank to cover the difference of what you could sell your house for and what you owe the bank?

If you answered yes to either above, then you may qualify.

The Benefits of A Short Sale

• Your home gets sold and the mortgage is fully paid off. The mortgage lender accepts a discounted payoff.
• You have no out-of-pocket costs as the mortgage holder pays virtually all sales costs including title and escrow, commission, and approved property repairs.
• Your credit record is protected from a foreclosure.

The Short Sale Process

When you choose us as your Orange County Short Sale Expert, we streamline the short sale process from:

• Paperwork
• Negotiating techniques
• Lender contact information

We strive to make sure we provide you with sufficient information during the short sale process and make your experience very smooth and stress free. We make sure we educate our clients so they are aware of the short sale process and are in the light. As your Orange County Expert Realtor, all short sale packages are thoroughly prepared and screened twice for accuracy. Your short sale package is then submitted to your lender when it meets our standards.

We have assisted numerous homeowners in Orange, Riverside and San Bernardino County. As a distressed homeowner, you’re already going under stress because of the hardship you are experiencing, you don’t want to choose any Orange County Real Estate Agents to Short Sale your home!

We have been relieving distressed homeowners by offering our years of experience and expertise in short sales.

What is a HAFA Short Sale?

Just like a standard short sale, it is the sale of your home for less than the amount of your loan through a government program. If qualified under this government program, you may be eligible for an incentive for participating. As of February 1, 2011 the government has changed its policies and procedures to make the process more efficient so that more HAFA short sales can close.

If you meet the following, you may be eligible to apply:

• You live in the home or have lived there in the last 12 months
• You have not purchased a new house within the last 12 months
• You have documented financial hardship
• Your first mortgage is less than $729,750
• You obtained your mortgage on or before January 1, 2009
• Your payment on your first mortgage is more than 31% of your current gross income
• You must not have been convicted within the last 10 years of felony larceny, theft, fraud or forgery, money laundering or tax evasion, in connection with mortgage or real estate transaction.

 

 

 

 

 

 

Top Eight Reasons to Short Sale 

1. If you qualify you can receive up to $5,000 for relocation. New programs have came out that may allow you to receive up to $5,000 for relocation please call or email for more info.

2. You pay no out of pocket expenses. All short sales are sold as-is, meaning you won't have to bother spending time and money on tedious home repairs. Your lender also pays for all realtor commissions and services on both sides of the transaction, giving you the least hassle possible in moving on to your next home.

3. Your credit damage is minimized. A short sale will have a recoverable impact of 80-100 points on one’s credit, compared to the devastating effect of 250-350 points a foreclosure has on a credit score.

4. You can buy another home in just two years. Fannie Mae Announcement 8-16 recently set the standard that homeowners who choose to short sale only have to wait two years before buying another home. Foreclose prevents you from owning a home for at least 5 years

5. You have an assured sense of relief. Short sales in lieu of loan modifications give homeowners a firm new start. The Department of the Treasury just released a study revealing that 55% of homeowners re default again within six months of receiving a loan modification.

6. You save money and pay less taxes. The Mortgage Forgiveness Debt Relief Act of 2007 allows short sale homeowners to not be taxed on the difference between their loan amount and the short sale price. With a foreclosure, you'll receive a 1099 for a home you don't even own.

7. You have a dignified solution to a difficult problem. A short sale allows you to stay in your home during the negotiation period. A foreclosure can become an embarrassing situation as a bank representative comes by to lock up the doors and windows, change the locks, and put up "bank owned" signs on your property while the local Sheriff is contacted to have you forcibly evicted.

8. You'll have an easier time finding a nicer place to rent. If you chose to rent, a foreclosure and/or eviction are red flags for landlords that will make it very difficult for you to find a place to live in the future. However, while a short sale is being negotiated, homeowners have many more options and can easily select a new place to live at their leisure.

 

We work with all major banks!

 

 If you would like to explore the possibility of a short sale for your property, avoid foreclosure, and potentially save your credit rating, please complete the form below.  A qualified short sale agent will be in touch with helpful information. 

   Short Sale Evaluation

 

 

First Name	*
Last Name	*
Address 1	*
City	*
State
Zip
What is the total loan balance on your home?
Are you late on your mortgage?	Yes No*
How many loan do you have on your home?	1st 1st and 2nd 1st,2nd and 3rd*
Home Phone	*
Email	*