Short Sale Myth Number Three

Today Certified Distressed Property Expert, Matt Gregory continues our series on short sale myths with Santa Clarita Short Sale Myth Number Three. Matt is an active Santa Clarita real estate professional here in Santa Clarita and has helped many homeowners avoid foreclosure by short selling their homes.

Update! As we approach 2015 we’re reviewing and updating all the content on this site. Our goal is to provide our loyal visitors and clients with only accurate and up to date content they can rely on. Although this post was published in 2010 it’s still basically accurate. Regardless, please keep in mind it’s NEVER a good idea to wait so long to try to obtain a sale date extension. Lenders may have policy changes and some are more willing than others to cooperate, especially at a very late date! If you are facing foreclosure and your sale date is looming, contact us. It can’t hurt to have check with your lender and see if an extension is possible. This is especially true if the real estate market is active and homes are selling quickly! It’s possible we may be able to obtain a solid offer to buy your home and put together professional short sale package and submit it to your lender. We have the professionals in place and can move very quickly whenever needed!

Watch the video and read below to learn more about Santa Clarita short sales and please contact us with any questions. We welcome any comments and would like your participation.

Myth #3 – There is Not Enough Time to Negotiate a Short Sale Before My Foreclosure

This is a myth that probably hurts homeowners the most. Many don’t realize that foreclosure is a process, and there is time to make decisions that may result in better outcomes.

We recently had a foreclosure postponed 24 hours before the scheduled date! We don’t like, nor do we recommend waiting until the last minute, but it can be done. Today, many lenders will agree to a foreclosure postponement with an honest phone call explaining that there is a vigilant effort being made to sell the home.  Most all lenders will agree to a postponement, even numerous times, as long as they have a legitimate sales contract in hand. Most lenders and experienced real estate professionals understand there is time available until the foreclosure process is complete!

Remember, most homeowners don’t understand that they have other options besides foreclosure! They seem to know about these almost worthless loan modifications but know little about short sales. The short sale should cost the homeowner nothing. this is one of the main reasons that seven out of ten people that experience foreclosure never even contact an agent. One of the main reasons for this is because they think it’s not possible because they’re to far upside down or, they would have to pay the real estate broker fees with money they don’t have.

REMINDER: Watch out for those scam artist out there. They’re just waiting to take advantage of those folks that are experiencing financial difficulties in these tough economic times. Take a look at our other posts to learn more but the main thing to remember is; If it sounds to good to be true it probably is!. Don’t give anyone any money up front for a loan mod. Avoid forensic loan audits and securities checks. if you decide to short sale your home be sure use a real estate agent that is highly experienced with short sale transactions. Your Santa Clarita Short Sale Expert is Matt Gregory. Contact him and his team today!

We look forward to your thoughts and comments regarding Santa Clarita Short Sale Myth Number Three.