Chula Vista Short Sale Specialist
What is a short sale in Chula Vista?
A short sale is typically for the Chula Vista homeowner who is in some kind of hardship or underwater in their home. A short sale happens when the homeowner seeks the approval from their lender to sell the property for less than what is owed on the mortgage loan in order to avoid a foreclosure.
How can I qualify for a Chula Vista Short Sale?
The qualifications of a short sale usually consist of being in some sort of financial hardship. Qualifying short sale hardships are typically:
Active Military
Divorce
Excessive Medical Bills
Death of a Family Member
Job relocation/transfer
Incarceration
These are a fraction of hardships that are usually accepted in a short sale; however it is always advisable to seek the professionalism of a Chula Vista short sale specialist to better understand the short sale process and the qualifying hardships that may be accepted in a short sale.
What will I need to provide for my short sale?
In a short sale the homeowner will most likely be asked to provide a bundle of financial documentation as well as a hardship letter to verify their need to be rid of their obligation to their mortgage loan. This cluster of paperwork is called “A SHORT SALE PACKET” This package is highly important for it holds all of the necessary information a lender would usually need to make their best judgment on the approval or rejection of a Chula Vista short sale. An example of the necessities of the short sale package would be:
Letter of Authorization
Preliminary net sheet
Tax returns
W-2's
Payroll stubs
Copies of bank statements
Comparative Market Analysis
Short Sale Hardship Letter
Why are short sales beneficial?
A short sale has the ability to save a homeowners credit by simply decreasing the amount of time before they can apply for another loan as well as the amount of damage ones credit score would take. In a foreclosure, it has been known to drop a homeowner’s credit by 300+ points, whereas a short sales impact to credit is mostly based on points from each missed mortgage payment. Also, in a short sale the homeowner will typically be given incentives upon completion of the short sale in order to help with establishing credit and or paying off debt. In addition, the Home Affordable Foreclosure Alternatives program will offer an additional $3,000 Cash Back to the homeowner to assist with relocation expenses.
Can any Chula Vista Realtor short sale my home?
Hardly, when it comes to a short sale, it is usually a good idea to seek out a professional in its field in order to obtain positive results. Like any profession, specialists in short sales solely dedicate their lives to helping homeowners escape foreclosure through a short sale. One of the greatest benefits of a short sale specialist is that you should never have to pay for their services; after all, you are more than likely in a financial hardship so why should you have to worry about spending more money in your already fragile state? An experienced Chula Vista short sale agent will be able to handle all negotiations on your behalf while also building a strong mutual trust with you in order to make sure you are aware and comfortable throughout the short sale process. Finding the right short sale Realtor should be a tedious, but well worth it, process. You shouldn’t settle for the Realtor who has tried out short sales but never really successfully closed one. Instead, find a specialist who has closed many short sales and given other homeowners the chance to move on with their lives and stop foreclosure! We offer no cost assistance to you during your short sale, contact us today!
FABIOLA GONZALEZ Lic # 01402106
Coldwell Banker West DRE 01481919
(619)279-7167 or (858) 381-0091 Faby@FabyGonzalez.com
2300 BOSWELL SUITE #100
CHULA VISTA CA 91914
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