subject: San Diego Short Sale Experts - Helping San Diego Home Owners with Short Sales [print this page] San Diego Short Sale Experts - Helping San Diego Home Owners with Short Sales
Is a short sale right for you?
If you are like most people, your house is under water. Meaning you owe your mortgage company more than you could sell your home for. When people are in this situation it makes it hard to continue to pay your mortgage payments. Its like a black hole. You may not see the light for 10 more years when the market comes back.
If this is like your situation, a short sale can help. Its an option besidesforeclosureand looks better on your credit.
What is a short sale?
A short sale is when you decide to sell your home but you have no equity. In this situation, you have to get permission from your mortgage company to release you from the mortgage debt as there will not be enough funds to pay them off.
In order for your mortgage company to agree to this, they make you submit all your current financial documentation to make sure you are not able to afford paying them the difference between the sales price and what you owe them. This is where a Short sale agent really helps. You have to package theinformationin a way that the bank can understand that if you have to pay this money back it would put you in a dire financial situation.
You always want to make sure that if your mortgagecompanyapproves the short sale that they arereleasingyou from the liability completely and will not come back to collect thedifferencelater.
For more information check outSan Diego Short Sale Experts
