Q: Can anyone apply for a Short Sale?
A: A seller cannot simply decide to sell a property at a loss by asking for a short sale. Typically, there needs to be a verifiable hardship that is acceptable to the lender(s). Hardship examples include: divorce, job loss, death, health issues, family crisis, reduction of income, etc.
Deciding on a short sale vs foreclosure is a serious decision. Many homeowners are struggling to make their mortgage payments for reasons such as unemployment, a decrease in income, illness, divorce, adjustable rate mortgages, etc. Perhaps you have tried to work with your lender on a loan modification and have been denied.
It is important for the homeowner to have a better understanding of a short sale vs foreclosure so that you know more about what your options are in order to make the choice. In this website, we provide you with information on how to avoid a foreclosure and explain the effects it can have on you and your family.
For any questions on this process call us at (650)387-3484.
The Prieto Team has been serving the local Community for a combined experience of 28years!