Short Sale vs Foreclosure in San Diego

Avoid the stain of a foreclosure on your credit to follow you for years to come. Shorts Sales are becoming the way to go in San Diego CA. The seller pays no fees, no commissions and no closing cost. Short Sales are a win win for everybody.
 
Oct. 16, 2009 - PRLog -- A Short Sale is a proactive settlement between the homeowner in distress and their lender. Short Sales are an option before foreclosure. The threat of foreclosure is triggered by default-the homeowner fails to make one or more payments to the holder of the note, or mortgage loan, on their property. There are some alternate paths that can unfold when a home loan goes into default. One of the best options is a Short Sale. Short Sales are not "new news." They've been around for years.

Any time a homeowner recognizes they are about to have trouble making their mortgage loan payment-or are already missing one or more payments-they have choices. Short Sales happen, most of the time, during the time when a homeowner has been notified they are in default-and before the property is actually foreclosed on by the lender-the pre-foreclosure stage of the process.

It's this way most of the time, but not always-because a homeowner might be able to apply for a short sale even before they have defaulted. This is relatively rare.

Either way, choosing to be proactive is the homeowner's best option. A well informed real estate agent / consultant plays a vital role in that process.  http://newton3.com/short_sale_information.html

The Short Sale concept is not new. It's been around for years, but has garnered plenty of attention as one of the key forms taken by the distressed property "Market of the Moment."

A Short Sale is basically a settlement agreement in which the lender buys into a seller's proposal that the lender accepts less than the full amount due on their note (loan) when the property is sold. In doing, the lender is "short" a certain portion of the total due at closing-thus the term "Short Sale."

Short Sales accomplish many benefits for the seller. Residential foreclosures are dominating the U.S. economy in unprecedented numbers. In spring 2009, the real estate industry data tracking firm Realty Trac announced that one in every 374 homes received a foreclosure notice in one month-342,000 households! It was the highest reported rate since Realty Trac began reporting this data at the beginning of 2005.

Future projections of defaulting loans suggest this default trend may well continue in many markets through 2012.

The consequences of foreclosures make it something to avoid. Real estate agents have an opportunity to assist consumers-with good advice and Short Sale expertise. http://newton3.com/short_sale_information.html

A number of things can happen when property becomes distressed, but distressed sellers' primary options are:

1. Modification - Re-make or modify their mortgage somehow (3% actually qualify)
2. Short Sale - Apply for and complete a Short Sale.
3. Foreclosure - Be foreclosed and lose their home, credit, and ability to buy again anytime soon.

The U.S. government and the real estate industry are both focused on advising consumers to help them find the best path for them.

For more information on Short Sales please contact Newton3 Real Estate Services at http://newton3.com/short_sale_information.html. If you go to our contact us page, in the comments section type in (Ten reasons to avoid foreclosure) I will send you a FREE document via email with that information provided! http://www.newton3.com/contact.html

Truth: Only a minority of households that receive a notice of default from their lender find a way to avoid foreclosure.

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Save your credit from the stain of a foreclosure! We have a step by step process which includes specific documentation, a direct negotiator and a continuous follow up program that allowed us to close over 90% of all short sale listings!
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