R. Pereira "Realtor"

Short Sale General Information

Integrity and Service are my Priority.

Don't lose sleep over your real estate troubles...
I may have the solution.

Your Story is Not Uncommon!

Though it may be hard to believe, many homeowners are going through the same difficult real estate situation you are. During downturns in the real estate market, many homeowners find themselves borrowing on credit cards to stay afloat, unable to refinance and unable to afford the payment adjustments on their mortgages. In addition to these factors, some homeowners also have to deal with additional hardships such as loss of a job, medical issues, and family issues such as divorce. Most homeowners who encounter these difficulties usually owe more on their property than what it is worth.

Traditional solutions for this crisis situation include Forbearance, Modification, Deed in Lieu, or Bankruptcy. We have found that when homeowners seek these solutions, it usually leads to failure or rejection due to non-qualification or unaffordability.

I have another option for you - The Short Sale.

Don't lose sleep over your real estate troubles...
I may have the solution.

What is a Short Sale?

A Short Sale (also known as a Short Payoff) is when lenders accept a discounted payoff on an existing mortgage to allow an over-encumbered property to be sold. In other words, when a homeowner owes more on their property than can be collected through a real estate sale, a Short Sale allows the homeowner to sell their property to avoid a foreclosure on their credit. We educate you, the client, regarding the process and time lines of default, foreclosure, and Short Sale.

Contrary to popular belief, lenders do not want to own your property; they simply want to recapture a respectable amount of their original investment. A Short Sale may be the Real Estate industry's best kept secret. Thousands of people have simply walked away from their properties in deflated Real Estate markets because they did not know their options. Don't be one of these people.


What are the Benefits of a Short Sale?

The benefits to homeowners:
- Homeowners can avoid foreclosure and the embarrassment of eviction.
- There are no up front costs or out of pocket expenses to close escrow.
- Homeowners closing a Short Sale avoid the damaging effects of foreclosure on their credit report.
- You can even stay on the property during the Short Sale process at no cost.

The benefits to lenders:
- A Short Sale is a more cost effective solution than a foreclosure.
- Short Sales allow lenders to limit their percentage of foreclosed loans to meet their investor's guidelines.
- Lenders don't have to evict the homeowner, rehab the property, or market the property for resale.

Don't lose sleep over your real estate troubles...
I may have the solution.

How I Can Help?

Short Sales present a unique opportunity for homeowners. A Short Sale is a win-win situation for all parties involved: the homeowner does not have to suffer a foreclosure on their credit; the lender does not have to take on another repo (bad debt) on their books; and the buyers get to enjoy home ownership at a fair price.

My help provide the relief you need during this difficult time. I will counsel you during the entire process. I'm the liaison between you the homeowner and the lender. You will not have to be in direct contact with the lender. If the lender calls you, you simply have to redirect them to me.

Don't be discouraged if your hardship doesn't seem monumental. Most lenders just want to see proof that your monthly expenses are unmanageable based upon your current income.


Some Common Questions About Short Sales:

Q: Do I qualify for a Short Sale?
A: In order to qualify for a Short Sale, you will normally need to be able to prove that a hardship exists.

Q: What are acceptable hardships?
A- Unemployment
B- Reduction of income
C- Job relocation
D- Serious health issues
E- Medical bills
F- Separation
G- Divorce
H- Business failure

just to mention a few hardships....REMEMBER YOU ARE THE ONLY ONE THAT KNOWS BETTER.

Q: How much time do I have?
A: It takes approximately four months from the recording of a notice of default to complete the entire foreclosure process. Sometimes starting a Short Sale can postpone the foreclosure process long enough to complete the Short Sale. I will educate you further regarding the process and timelines of default, foreclosure, and Short Sale.

Q: How much will this cost me?
A: There are no up front costs or out of pocket expenses to close escrow.

Don't lose sleep over your real estate troubles...
I may have the solution.