Short-Sales: Stopping Foreclosure
"Short-sales" occur when a property is sold and the cash from the sale is not sufficient to pay your lender the entire amount due under the mortgage.
To complete a "short sale", the homeowner must obtain approval from the lender. This is a difficult position for an owner because the lender is a debt collector. It is in the homeowner's interest to have a third-party negotiator who knows what mortgage banks need in a short-sale offer.
Homeowners/borrowers can protect their credit scores by selling their home, even if the bank will not receive a full pay-off. Short sales allow you to avoid the affects of a foreclosures on your credit rating, insurance costs, credit card interest rates, and your ability to rent a home.
Usually when a short-sale is eminent, lenders will stop all foreclosure proceedings until all short sale possibilities are exhausted. For this reason, short sales are the best way to avoid foreclosure if all other remedies have been explored.
Carpenter Properties can prevent foreclosure in California by interfacing with the homeowner's mortgage lender to arrange a short-sale.
It's possible to negotiate a short-sale before or after a mortgage default or notice of default.
Carpenter Properties will help you avoid the sale of your home, but if no other alternative is available after negotiating with your lender, we will apply our years of short-sale experience to sell your property with very little interruption to your daily life.
Carpenter Properties is your independent real estate counselor. We do not make loans or represent lenders or banks. We serve only homeowners.
Unsurpassed short-sale Expertise
Carpenter Properties has developed specialized short-sale marketing programs that leverage the unique circumstances of a short-sale listing. These techniques minimize disruption to homeowners during the selling process. Without these special short sale programs, homeowners may have showing appointments for months rather than days. Our shorter time-on-market results in less disruption and more privacy, but does not significantly effect the time you can live in your home. You may actually stay in your home longer because a short-sale stops foreclosure processes from continuing in most cases.
Deficiency Judgement
Mortgage lenders can attempt to win deficiency judgments against borrowers who want a short-sale. This is a complex issue, but it can result in a line item on your credit report showing an unpaid debt. We negotiate with the lender to remove their right to claim a deficiency judgment, and also to have the short-sale mortgage reported as "paid-in-full" to credit reporting agencies.
or, Pick Up the Phone
Call us today for a free review of your mortgage situation and a short overview of our consulting services. We will give you mortgage advice during the call. There is no charge for our services until we complete an agreement in your home.
Call (916) 226-9039
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