Foreclosure verse Short Sale, Irvine CA

by braddhesi

Irvine Foreclosure verse Short Sale

Unfortunately due to the poor real estate market and mortgage lending issues here in Southern California there are many home owners who find themselves in foreclosure today. The good news is we can help stop your foreclosure even if you have no equity left in your home. Many people in your circumstance are not aware that there are many options available other than losing your home to foreclosure. Over the years we have used many strategies to assist many home owners in your situation. In some cases we can negotiate a deed in lieu of foreclosure and other circumstances we can assist you in negotiating a loan restructuring plan with your bank. Ever so often we can negotiate a forbearance. If you have equity left in your home we can redirect you to several of our mortgage loan partners who specialize in loan financing during foreclosure. If on the other hand you have no equity left in your home that is to say if you owe more to mortgage bankers then what your home is currently worth then a short sale may be the best answer for you and our team is very experienced in Short Sale transactions.

There are much better solutions available to you today. If you have some equity left in your home then there maybe four of five different solutions we can employ to help you with your situation. If you have equity left there maybe only two solutions left foreclosure and short sale. During a short sale procedure out team of experts negotiate with your mortgage bankers to convince them that it’s better to reduce your loan amount so that we can see your home on the open market verse the bank proceeding all the way to the foreclosure auction at the court house steps. You may ask yourself “why do I care I’m not going to receive any money anyway”. Well the fact is there are several important reasons why a short sale is a far better choice for you then a foreclosure, here’s why. The short sale process may not sound believable to you, but let me tell you it is. Our team has done this many times in the past and here’s how. Bank’s are in the business to lean money and manage documents they are not skilled at owning and managing hard assets like real estate. Real Estate that they take back in foreclosure is called REO Property. REO Property looks bad on the banks accounting books, so many banks prefer to avoid foreclosure if presented with a compelling option.