Short Sale Help for Homeowners

[By Jason Hector, Real Estate Broker 10/16/2015] A short sale is a liquidation plan in which the mortgage lenders or other lien holders agree to accept a payoff on the loan for less than the current balance.  This option is typically used when a loan modification has been unsuccessful in making the payments affordable to the homeowner or when a hardship exists such as loss of job, decrease in income, divorce, illness, death in the family, and many other reasons.  Lenders will typically consider a short sale even when the loan is current if they feel it is in their best interest.  Many lenders agree to a short sale because they receive more of the loan balance in comparison to the amount from selling the home under foreclosure. 

A short sale is typically a very complex transaction and is not your typical real estate transaction.  Homeowners should hire a qualified and experienced Realtor, like myself who has successfully closed complex short sale transactions. I am experienced in negotiating with multiple lienholders, managing and selling distressed properties and helping homeowners with the stress of the property.  As an experienced Realtor, I work in Canyon Country and am near Granada Hills and Chatsworth area as well as throughout the San Fernando Valley.  After receiving an inquiry submitted online from my website, I speak with you over the phone so that I can set your expectation about the process and take the burden of managing the property and dealing with the lender(s).

To find out if you are HAFA eligible, contact me so I can see if you are eligible for the HAFA Short Sale Program, you may have been solicited by your lender.  There are homeowner benefits which include relocation assistance, deficiency judgement protection, and protections against foreclosure while being reviewed.

It is best to contact a real estate professional like me before you miss your first payment.  If not, hopefully before a notice of default is filed.  If a notice of default has been filed, contact me immediately.  The sooner you contact me the better since once a notice of default is filed, the homeowner can be denied from the HAFA program if there is a foreclosure sale date.  Once there is a trustee sale, time is of the essence and options may be very limited.  Remember, if the homeowner needs to have time to put the house on the market, find a buyer and submit all the paperwork to the lender which makes it more likely that the home will go to foreclosure.  Banks typically want all a complete package in their system about 1 to 2 weeks before a trustee sale to be considered.

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Jason Ian Hector, CalBRE LIC #01481898
11630 Seminole Cir • Porter Ranch, CA 91326
Cell: (818) 357-9658 •