Short Sale Info Archives - Santa Maria CA Real Estate Blog & Information, REALTOR® Selling Santa Maria CA Homes

5 Fun Facts About Fannie Mae Short Sales

05/28/2012
Short Sale Info

5 Fun Facts About Fannie Mae Short Sales Is there anything fun about short sales? Well probably not a lot. But certainly, they are more fun when they are approved quickly. Some of my favorite short sales have been on…

Search Short Sales

02/13/2012
Short Sale Info

Short Sales in Arroyo Grande, Avila Beach, Buellton, Grover Beach, Lompoc, Los Alamos, Nipomo, Oceano, Pismo Beach, San Luis Obispo, Santa Maria-Orcutt, Santa Ynez, Solvang

What Should I Say In My Short Sale Hardship Letter?

07/27/2011
Short Sale Info

As a Santa Maria short sale agent, this is probably the most common question I’m asked by potential short sale sellers. It can easily become the “never-ending term paper,” you know, the one you never start writing? Short sale sellers tend to put off and put off writing their hardship letter. It is a bit different than a loan modification hardship letter, where the purpose is to indicate that you have it hard but you can still afford to stay in the home if your lender makes a few changes to your loan.

5 Reasons Why Now Is the Time For A Short Sale of Your California Home

07/20/2011
Short Sale Info

California Senate Bill 458 (SB 458) - Just signed into law by Governor Jerry Brown on July 15, 2011 and effective immediately thereafter, it prevents junior lien holders who have accepted a short sale from pursing a deficiency against the short sale seller. This law expands the protection provided in Senate Bill 931, and is a major development in the area of short sales. And, I think it makes the case in favor of short sale vs. foreclosure

Top 5 Mistakes Short Sale Sellers Make

07/06/2011
Short Sale Info

Top 5 Mistakes Short Sale Sellers Make As a Santa Maria Short Sale Agent, I see short sale sellers make critical mistakes time and time again. Here is my list of the top 5 mistakes I see: 1) They…

What is a Short Sale?

06/29/2011
Short Sale Info

What is a Short Sale? It seems that everyone is talking about short sales these days. But, what is a short sale? Simply put, a short sale allows you to sell your home for less than what you owe. It…

To Pay or Not To Pay That Is the Ultimate Short Sale Question

06/26/2011
Short Sale Info

I find that many people with high incomes and/or substantial assets often make the strategic decision to stop making payments because they do not believe that the lender will consider their hardship case without it. So, they are not making payments to drive home the issue of hardship to the lender.

Is A Short Sale The Same As A Pre-Foreclosure?

06/17/2011
Short Sale Info

No, a short sale is not the same as a pre-foreclosure. A pre-foreclosure home has begun the legal process of foreclosure in California. Typically, this means that a Notice of Default has been sent to the home owner and filed at the County Recorder’s Office. Notices of Default are a matter of public record, and as such it is relatively easy to determine if a Notice of Default has been served on the property owner. After three months, if the Notice of Default is not cured by the home owner, the lender can then file a Notice of Trustee’s Sale. During this time period, people will often refer to a home as a pre-foreclosure.