Why are El Dorado Hills Short Sales Increasing?
By: El Dorado Hills Expert Short Sale Negotiator and Certified Short Sale Specialist Forth Hoyt
I had two different El Dorado Hills homeowners not yet in Foreclosure call me recently to talk about their situation and ask “are we candidates for a short sale?” “can we qualify for a short sale in El Dorado Hills?”
Both homeowners occupied their homes as their primary place of residence, both had faced a substantial decline in household income, one couple is looking at retirement in a few years and upside down by a long way!
In both instances I answered “absolutely, you have definitely got a documentable and substantial hardship for a short sale; as long as you are committed and will be responsive and reasonable with the bank , servicer and investor’s requests for documentation and proof of your situation.”
These are the types of people who absolutely fit in the “short sale sweet spot”, they are highly qualified for a short sale; people who are struggling now to make payments, who are foregoing home maintenance, putting off home repairs, falling behind on other debts… and are looking at an even lower monthly income at retirement in the next few years.
It seems that even those who have never lost a job, but their spouse has, or have seen reduced over-time, or a failed home-based business, or spouses that are no longer working part time are finding their credit cards reaching their limits. And definitely no longer enjoying home appreciation that can no longer be tapped periodically to pay credit cards or upgrade automobiles…
More and more of the prospects for a short sale that I talk to are still current but have reached the end of their rope… and many of them made substantial down payments and were counting of home equity for their retirement and are having a hard time facing the fact that they have to let their home go.
Can I qualify for a short sale? Do I have a hardship for a short sale? Can I qualify for government short sale programs? What about short sale relocation assistance? Get these questions answered here at Forth Hoyt’s Sacramento Short Sale Center
Take action, find out more about your options and learn if you are eligible. If your situation is urgent, or you have further questions, feel free to Contact us Today At Forth Hoyt’s Sacramento Short Sale Center