What if I have to move from Folsom and I’m upside down?
Who can I ask about a short sale possibility?
Is there someone in Folsom who can tell me if I can short sell my House?
How do I find out if short sale is possible for my home in Folsom?
As a Certified Short Sale Specialist and a Realtor who focuses on Folsom, El Dorado Hills, and the surrounding communities of Orangevale, Fair Oaks, Granite Bay, Mather, Rocklin, Roseville and even Natomas, Elk Grove and West Sacramento, I am constantly getting asked about the qualifications for a short sale.
There is so much misunderstanding when it comes to how the banks decide who has a hardship for a short sale and who does not…
What constitutes a hardship for a short sale?
There can be many reasons for a bank to consider your situation and approve you for a short sale; many different scenarios would be grounds to let you short sell the house, but it all boils down to a financial problem…
A quick snapshot of your situation is outlined in your hardship letter. A great hardship letter is the cover letter for your short sale file: What is a Hardship Letter? The Short Sale Hardship Letter Sets The Stage. It quickly tells your story to the bank servicer and investor and all who is involved with your transaction.
The hardship may show up in different scenarios and there are several different reasons for a hardship, but it all boils down to the fact that you cannot continue to pay your mortgage. You are either behind or going to be behind sometime in the future.
Does your situation include a move for work reasons? A drop in income or an increase in expenses? Did your life plan include selling your property to help fund your retirement? Are there family health issues that have come up unexpectedly?
There are many, many different scenarios where a short sale is a perfect solution. However there are also many new issues regarding short sales that homeowners need to consider when making a decision to do a short sale; Here are a few:
New Government Foreclosure Prevention Program Eligibility- Which Programs Do You Qualify For?
Can My Second Loan Sue Me? Whats The New Law In California Regarding Short Sales?
Questions on your particular situation? Would you like to see if you can Short Sale on your Folsom home?
Contact us Today At Forth Hoyt’s Sacramento Short Sale Center.