I am NOT in foreclosure and I have missed NO PAYMENTS, can a short sale work for me or do I qualify for a short sale?
It is difficult to do a short sale if foreclosure has not been filed but it is possible if a couple of payments have been missed and there is a good hardship story. The lender must be convinced that they will NOT BE REPAID without the short sale.
If you are not in foreclosure and you have not missed any payments, a short sale is probably not likely, but it is possible. The key is to have a legitimate financial hardship that will keep you from making the payments. A short sale is not just an easy way out of a bad investment. If you are working and your house has just lost some value, that is just unfortunately a bad investment and you are responsible to pay the shortfall.
Short sales are when lenders agree to discount a mortgage for someone who has had legitimate hardships and who has little chance of paying the amount owed. You may be hearing stories that mortgage companies are hurting and they don't want these houses and are giving big discounts away. These stories are mostly urban myths and are not true. In fact, the opposite is happening. Since profits are down, lenders are getting tougher when negotiating prices. They are not letting properties go cheaply and without very good reason. They will try ANYTHING to get you to repay the mortgage in full. A short sale is only a last resort, but we do know how to get lenders to agree to a short sale.
What if my mortgage is an FHA...or HUD...or VA mortgage?
Short sales can still be done on all these types of mortgages though each one has different criteria. Just let us know what kind of mortgage you have and we will take that into account.
IF YOU ARE HAVING TROUBLE WITH MAKING YOUR PAYMENTS OR ARE HAVING ANY FINANCIAL DIFFICULTIES A SHORT SALE MIGHT BE YOUR BEST OPTION.
CONTACT US TODAY TO SEE IF YOU CAN QUALIFY. OUR SERVICES ARE FREE AND EVERYTHING IS KEPT IN THE STRICTEST CONFIDENTIALITY.
CONTACT FRED SED AT 949-274-3733 OR EMAIL AT FREDSED@PGCOASTAL.COM
The answer depends on the bank you're working with. Lately, I think that the name "Chase" stands for "Chase us around if you want a short sale or modification"