Short Sale 101
A Real Estate Short Sale occurs when the liens against the deed of the property are greater than the current Fair Market Value of the property. The easiest way to put this is that a short sale is when you're "upside-down" on your mortgage(s).
Short Sale Benefits What homeowners don’t realize is that the short sale can be extremely beneficial for all parties involved. The homeowner can dramatically save their credit by successfully short selling their home. The lender benefits by selling the property for a higher net proceed than what they would receive if the property was foreclosed do to the high costs of foreclosures in California.
Short Sale vs. Foreclosure In 2011 Contra Costa and Solano Counties saw a rise in the number of short sales listings. In 2008 & 2009 Foreclosures or REOs where the dominate listings in the market. There’s a reason why lenders have switched gears from pushing to foreclose to entertaining short sales with much more open arms! The bottom line is…when it comes to a short sale vs. foreclosure, the lender would prefer a short sale. If you would like to discuss short sales and how your specific situation could benenfit, please contact me. No obligation, hassle free!!
The best decisions are informed decisions
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