What is a Short Sale?
A SHORT SALE occurs when a homeowner owes more on their property than it is currently worth, and they need to sell.  Homeowners can hire a qualified real estate agent (like myself) to market and sell their property through the negotiation of a short sale with their lender.

This typically requires the property to be on the market and the homeowner must have a financial hardship to qualify. Hardship can be simply defined as a material change in the financial stability of the homeowner between the date of the home purchase and the date of the short sale negotiation. Acceptable hardships include but are not limited to: mortgage payment increase, job loss, divorce,
excessive debt, forced or unplanned relocation, and more.
·      Benefit: A short sale allows the homeowner to avoid foreclosure and
salvage some of their credit rating. This also keeps foreclosure off the
individual's public record, and in many cases will allow the homeowner to avoid
a deficiency judgment. Borrower may qualify for another mortgage in as little
as 24 months (as opposed to five years for a foreclosure).
·      Benefit: Some Lenders will even PAY YOU money at the end of a short sale. These payments generally range from $2,500 - $30,000!
·      Drawback: Short sales can be a trying process in which a homeowner is best served by contracting with a qualified real estate agent (like myself) to guide the way.



RE/MAX Clarity
884 Eastlake Pkwy #1629 • Chula Vista, CA 91914
Cell/Text: (619)370-6555 • Fax: (619)872-4210

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