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PREVENT FORECLOSURE - DO A SHORT SALE

ROBERT KAFLINSKI

805-450-9594

  Residential Realtor®  License # 01739255

Santa Barbara Real Estate ~ Santa Barbara Short Sales Help ~ Santa Barbara Real Estate ~ Santa Barbara Short Sale Help ~ Santa Barbara Real Estate ~ Short Sale Help Santa Barbara ~ Foreclosure Help

Santa Barbara

Real Estate

Santa Barbara Real Estate

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Avoid Foreclosure on Your Home or Condo With a Short Sale

Are you currently behind on your mortgage, in serious default, or at risk of foreclosure?

Before putting your hands up and letting your lender foreclose, consider doing a short sale.

This basically involves selling your home for less than what you owe on it and getting your

bank to accept a discounted payoff for your mortgage. By doing a short sale, you can

free yourself of a heavy mortgage and avoid a foreclosure that would remain

on your credit report for the next 10 years.

Why banks accept short sales? 

Because it saves them money. It gets bad debt off their books so

they can reinvest that money by giving out another loan to a customer.

On average a Lender loses between $30,000 to $80,000 on each property

that they take back as a bank owned property.

Are short sales hard to get approved?

Not all lenders will agree to a short sale because, after all, it is a direct loss on their side.

But with government efforts to support foreclosure prevention methods, more and more

lenders are granting short sales to help struggling borrowers. To get your short sale

application approved, you need to convince your bank that it’s your best option,

and that a short sale makes financial sense for both parties.

When should I start the short sale process?

Some banks will let you do a short sale even if you’re still current on your payments, while

others require you to be at least 90 days behind. Others assess you based on your financial situation. One thing’s for sure, though: the earlier you act, the better. Most people start the short sale process when they’re already in foreclosure, and many end up losing their homes before getting a reply.

To find out if you qualify to short sell your home click here or call: 805. 450. 9594

Santa Barbara Real Estate

Santa Barbara Real Estate