San Francisco CA Short Sales Specialists
What is a Short Sale in San Francisco California?
A short sale is a real estate transaction in which a lender will typically agree to accept a lower payout in order for both the homeowner and lender to avoid a foreclosure. In a California short sale, the homeowner will need to seek permission from their lender to sell their property for less than what is currently owed on the loan usually due to some kind of hardship.
How do you qualify for a San Francisco short sale?
The qualifications for a short sale in California usually depend on your current hardship or whether or not your home is underwater. Some typically accepted hardships would be:
Death of a Family Member
Excessive medical bills
These are just a few ideas of acceptable financial hardships for a short sale in San Francisco; however it is always a great idea to seek out a California short sale agent in order to acquire better knowledge of the short sale process and how you can qualify for a short sale.
Can I short sale my home without missing payments?
Yes. In fact, if you have not missed any mortgage payments but can foresee a possibility of missing payments in your future then you may still be able to qualify for a short sale. For the homeowner who qualifies for a short sale without missing payments has a far better chance of being able to become a homeowner a lot sooner than the homeowner who has fallen behind on consecutive missed mortgage payments. Also, when it comes to credit, a homeowner will take the most damage to their credit score because of missed mortgage payments; no missed mortgage payments will typically result in a better credit standing upon completion of a successful California short sale.
How will a short sale benefit me?
A short sale is known for the incentives that may follow its completion. A foreclosure will usually damage a borrower’s credit score by 300+ points whereas a short sale will do most of its damage through missed mortgage payments. Also, a foreclosure will leave the homeowner in a state of limbo by not being able to apply for another loan for almost seven years; a short sale can recover in as little as two years.
Can I short sale my California home while in foreclosure?
Yes. If you qualify for a short sale, your lender will more than likely be happy to opt for a short sale because of the costly proceedings a foreclosure will bring to them. Banks have a reputation to carry and many foreclosures will look bad on them. Foreclosures also tend to take a long time, whereas a short sale may have its share of being time consuming, the lender will result in some kind of payment rather than losing all together.
Who can help me short sale my San Francisco home?
When it comes to short sales it is important to make sure you have a short sale specialist working on your behalf from beginning to end. Should you choose a random Realtor to short sale your home, you could potentially end up in even worse shape; experience is key in a successful short sale. When looking for the right short sale agent, it is advisable to check credentials and conduct interviews. As a homeowner, you should know you should never have to pay for short sale specialist services; you are already in a state of distress because of financial reasoning, you should not have to worry about dishing out more money. If you are looking for the best short sale agent in San Francisco who can help you get out from under your home and on with your life! Contact us today to speak with one of our impeccably talented and experienced short sale agents!
Are you looking for a San Francisco short sale specialist who is familiar with the Bank of America Equator short sale process and will offer no cost assistance to you in your San Francisco CA short sale? Then you have come to the right place! Our Distressed Property Experts are Certified and trained in short sales and look forward to helping you qualify for a San Francisco California short sale!