What defines a Short Sale in Real Estate?
A short sale is more often than not is mutually beneficial and rewarding for both parties. Both parties: meaning homeowner and lender. On average it would cost a lender $58,000.00 to go forward with foreclosure dealings. Hence, it makes a short sale a benefit for both the lender and homeowner. The repercussions the homeowner’s credit would take from a short sale would be nowhere near the fatality of a foreclosure. In addition to most cases the lender waives his rights to shadow judgment on the amount owed at a later date.
Within a short sale, the homeowner sells their home for less than the original worth of the property. The lender would accept a lesser amount and cut their losses. Your agent will collaborate with your lender to try and get liberation from the debt owed, pardoning you entirely.
Once a successful short sale has been completed it will appear on your credit as "Settled in full" or "Paid as negotiated". Your San Jose home will be sold and he mortgage will naturally be considered completely paid off, and have avoided Bankruptcy and Foreclosure. Your credit will take a FAR less hit from a short sale and will recover dramatically quicker.
What is the homeowner gaining from this?
Short Sales have carried a status of not closing for various reasons. To inspire the homeowner streamlining of the short sale process, our Government started the HAFA Program in April 2010. Under the HAFA program guidelines, lenders are offered incentives to approve short sales in an imperative fashion and homeowners receive $3,000.00 towards their relocation expenditures! Contact us now to speak with a HAFA Short Sale Program Specialist in the San Jose California area today! You may also click the following link for more information: HAFA Short Sale in San Jose.
What are the advantages to a San Jose CA short sale?
Upon completion of a short sale, the foreclosure has already been avoided. A foreclosure can damage your credit causing you to, for at least the next seven years, owning your own home and being able to proudly call yourself a once again homeowner.
●You are normally forgiven for 100% of your debts.
● In only two years, purchasing a home and calling yourself a homeowner once again, will be possible.
●Your lender will cover all Sellers' costs including our fees, making the short sale contract COMPLETELY free to you!
●Your home gets sold and you can move on with the rest of your life!
What are examples of a financial Hardship?
●Loss of income
●Loss of job
●Divorce or separation
● Increased living expenses
●Death of a family member
●Repairs needed with no resources to do so
Can just any Real Estate agent work a short sale?
Unfortunately many Realtors in San Jose are not experienced enough in the short sale field. When making the choice on whom you would like to call your agent, stay away from "occasional" and contact experienced! Our agents are highly trained and experienced to get you moving in the right direction!
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Our San Jose CA short sale specialist real estate agents specialize in helping homeowners stop foreclosure. Buy or sell San Jose California short sale property homes and real estate with a specialist! Call today and ask us "How do I short sale my San Jose home?" Short sale your San Jose home for FREE while saving your credit! Look no further for short sale services in San Jose CA, we can guide you through the short sale process.
Need a San Jose CA Distressed Property Expert Certified in short sales to offer free Chase short sale services? Our San Jose area Distressed Property Expert's real estate agents are here to help, and are Certified or trained in the California Home Affordable Foreclosure Alternatives, or HAFA Government short sale program.