Short Sale Help Is HERE
Posted by Misty Dobson | Visited 181 times, 1 so far today | Leave A Comment »
A Short Sale…When the net proceeds from the sale of a home are not enough to cover the mortgage owed and other costs.
To determine if a Short Sale is an option for you: A Comparative Market Analysis along with costs associated with a sale will help to determine if you are short.
To start the Short Sale process, you need income documents and a hardship letter explaining your current financial situation which can be submitted to the bank, along with market information provided by your Realtor. It is valuable to you if your Realtor contacts the lender(s) to follow up on a Short Sale approval so that your “Short Sale Package” gets the attention from a negotiator.
There is no set time line for a Short Sale to be approved..it could be 30 days to 6 months. Finding a buyer for your home that is pre-approved for a loan and willing to wait patiently for the Short Sale to be approved is ideal.
Adjustable rate mortgages are getting ready to reset to higher loan amounts soon, and short sales are to be expected. Hot On San Diego Team is experienced in Short Sale listings and purchases. For more information contact me .
Misty Dobson / Realtor – 760-703-2726
