Nancy A. Meier, Realtor®, CNE®, E-Pro
Granite Bay * Loomis * Roseville * Folsom * Rocklin * Property Management

CalBRE License Number: 01840049

Nancy Meier Homes
SunCal Real Estate Group
1013 Galleria Blvd., #290 Roseville CA 95678

A short sale occurs when a lender agrees to discount a loan balance due to an economic or financial hardship on the part of the borrower. A short sale is a negotiation done through the lender's Loss mitigation department. The distressed homeowner hires a Licensed REALTOR to list, market and sell the property for its current market value, even if less than the outstanding balance of the loan. Since the lender is receiving less than what it is owned, a short sale requires the lender's approval before it can close the transaction.

A short sale is executed to prevent a home foreclosure. Lenders will only approve a well planned, well prepared, well presented short sale to avoid the costs of a foreclosure that can reach tens of thousands of dollars.

The advantages that a successful short sale brings to the homeowner are too numerous to list, but they include the end the foreclosure proceedings against the borrower, minimum impact on the credit history (compared to the devastating impact a foreclosure would bring), ability to maintain current employment and obtain future employment. A short Sale is a complex, detailed and time consuming transaction and a distressed homeowner's financial future solely depends on his/hers decision of hiring a professional who specializes in and is an expert on Short Sales.

 

The short sale of your home will result in a positive impact for all parties involved:

Positive #1: You will be able to avoid the devastating effects that a foreclosure will bring to your credit score, your job security and to your public record (foreclosure is a public record and can never be removed).
Positive #2: A short sale will possibly affect your credit rating, but accompanied by a good credit rebuilding plan, you will likely be able to own a home in 2 short years!

Positive #2: With a short sale, your current lender will avoid the extremely expensive foreclosure proceedings.

Positive #3: The buyer of the short sale property will be purchasing your property at a great value.

Positive #4: Your neighborhood will benefit by not having a bank owned property!