A Brief Explanation

If you want to sell your house but it is worth less than the amount remaining on the mortgage, a short sale may allow you to sell your house and settle your mortgage debt.

By completing a short sale rather than allowing your house to go through foreclosure, you avoid eviction and your house will not be sold at a public sale or auction. Plus, depending on your circumstances, you could qualify for financial assistance from $3,000 and $30,000 to help with relocation costs. Each short sale is evaluated individually.

The goal of a short sale is to help you avoid foreclosure if you are no longer able to make the payments necessary to remain in your home. In the short sale process, you sell your home and settle your mortgage debt for less than the amount that you owe.

You may be eligible to sell your home in a short sale, if:

  • You have a hardship, such as a job loss, divorce or medical emergency
  • You owe more than your house is worth
  • You are unable to afford your current monthly mortgage payment
  • You are unable to modify your current home loan

Through the end of 2013 any tax bill that is generated from the amount of debt forgiven by the lender, usually considered “income” by the IRS, will not have to be paid. The Mortgage Forgiveness Debt Relief Act generally allows you to exclude income from the discharge of debt on your principal residence.

These are two strong reasons to get started on your short sale immediately. Additionally in California there are no “deficiency judgments”; lenders cannot come back to you and demand that you pay for their loss.

The great news is that “You are not alone!”

You may be feeling overwhelmed and that you are the only ones in your current financial position. But we can assure you that hundreds of thousands of people across United States are in exactly the same position. We understand how difficult your situation feels to you. We’d like to help you by making sure you have the most current information possible to move forward towards a complete financial recovery.

First, we would like to convey to you that “Time is of the Essence”

Second, we will make sure that you have the most current information available to make your recovery as quick and complete as possible.

We are happy to provide a free consultation to find out what the best solution is to your specific situation. If you qualify you may be able to keep your home. If so we will let you know as soon as possible.

Understand that any licensed agent can list your home for sale. However, some agents have additional certifications and education that allow them to do a much better job for you. They are aware and fluent in the latest procedures and programs that are “friendly” to homeowners just like you. Two certifications that you should be looking for are the CDPE (Certified Distressed Property Expert) and the SFR (Short Sale and Foreclosure Resource). To your benefit we have both of those important certifications.

Please contact us so we can discuss how best to serve your needs and get you started on the path towards your new life.