How do I get Started on a Short Sale?

  All you need to do is contact me. There are two ways to get started. You can do it online by filling out the form  on this website or you can call me at 209-988-8594 and I will either mail or fax you a form. If you decide after we begin you don’t want to do the Short sale that is okay.  

  I am up to date on my loan. Will my lender consider a Short Sale?

 If you are making your payments but it is putting a hardship on your family we can submit a package to the lender or lenders and see. Some lenders will do this and others will wait until you are behind. Remember there is no fee to put a package together. 

What sort of hardship would my lender accept?

  That depends on the lender doing the Short Sale. Usually if the hardship is real  and will cause a delinquent problem on the loan, the Short Sale request will be handled by The Loss Mitigation Department. When this department is handling the request you need a strong letter  about your hardship. 

Below is a list of the most common hardships accepted by lenders.                                               

Family illness or injury                             

Move to take care of extended family due to illness or injury                            

Job relocation when the property is not worth what is owed on it                             

Job loss or significant loss in income                             

 Divorce or split of domestic partners 

 Adjustment in mortgage payment or unexpected increase in living costs  

How will a short Sale affect my credit?

 By doing a Short Sale you may miss a few payments by the time it is completed. This will affect your credit but not as severely as a foreclosure. You will be able to resume purchasing normally within a reasonal time as long as you have kept up the payments on your car, credit cards, and other bills.