Usually we get an email from this web site or a phone call from a past client or someone who is in foreclosure. We then answer any questions they have over the phone as best we can and then set up an appointment to see the home or condo and gather information from the homeowner considering a short sale. Some of the questions we will ask and paperwork we will gather is to find out how much is owed on the property and whether the seller is in default on any mortgage liens, taxes, or association dues. We will ask for copies of the most recent mortgage statements including second mortgages and lines of credit. We will need the most recent property tax statement and association dues bill. We also ask the homeowner to gather up additional paperwork.

We will complete free of charge a CMA or Comparative Market Analysis on what your home will sell for in the current San Diego real estate market. We will use Active, Pending “homes in escrow”, and Sold homes or condos to value your property.

Sellers need to be aware that they will have to find out whether the loan(s) they have might be subject to a deficiency in a short sale are “Recourse” or Non-recourse”. In a recourse loan, the borrower retains personal liability for any deficiency after a sale or foreclosure. The lender has “recourse” to the personal assets of the borrower to make up any deficiency. In a non-recourse loan the lender is limited to whatever funds are available from its security interest in the property itself, and cannot force the borrower to repay any deficiency. Each state has its own rules and in some states a loan can be either recourse or non-recourse depending on factors such as whether it was a purchase money loan or a refinance. These are legal question and we recommend professional legal, credit, and tax advice. A short sale should never be the first choice because it carries with it serious negative credit and, possibly, tax consequences. Potential short sellers are advised that any action they take other than full payment of the mortgage note will have negative credit consequences. Sellers are encouraged to consult with a HUD-approved credit counseling agency prior to making any decisions. Sellers should be cautioned that when selecting a credit counselor to carefully check the credentials of the agency as not every credit counselor or foreclosure rescue specialist is going to be HUD-approved. 
 
We help San Diego Homeowners that owe the bank more money than what their home or condo is worth after selling and closing expenses. We submit a short sale package to the bank and list their home for sale in the San Diego MLS. We negotiate the offer with the bank and buyer on the sellers behalf and try and get the bank to take an offer less than what is owed on the home. We have helped many San Diego Homeowners get out of their homes and get relief. Many will buy a home again in the near future after renting for a while. Our success rate is very high and our experience and customer service is the best in San Diego County. We're here to answer any San Diego Short Sale Questions that you have. Contact us today.
 

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