Temecula Short Sales Are on the Rise

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Today I'd like to talk to you about the short sale process.

 Right now we are experiencing a resurgence of short sales. Ten years ago, people were offered a loan modification in order to avoid a short sale, so we haven't seen as many short sales in the past few years. 

 

Now those low payments are coming to an end, and many homeowners can no longer afford their mortgage payments. Their homes are still underwater, so they are opting for short sales now.

If you are considering a short sale, or just have questions about the short sale process, give me a call or send me an email. I'd be happy to help you.

How Can a Short Sale Benefit You?

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A short sale is what happens when the mortgage on your home exceeds its value. When you owe more than your home is worth, the only way to make money on the sale is through a short sale. This must be approved by your lender first.

I thought short sales were over with, but in the last month I have been hearing about them more frequently. People who didn't opt for a short sale in 2010 had their home loans modified so that they could stay in their homes for greatly reduced prices.

However, those home loans are now resetting, and the new payments are quite a bit higher. When these homes become un-affordable, people start to call me and ask about the short sale process. 

I'm an expert in the process of short sales. I have more than eighteen years of experience with them. There are no out-of-pocket expenses in a short sale, and the banks in California cannot come after you for any deficiencies after you've sold. 

Please don't hesitate to contact me for any reason. I would be more than happy to help you with any and all of your real estate needs.