PreForeclosureHelp

 



If you would like to avoid all the hassles of the public foreclosure process, and think it is possible that you owe more on your home than what it is worth, view the comparison chart below and call or text today at 209-321-2399 or https://instantbizsites.com/AnnieTatarian/foreclosure.

 

In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Due to recent updates to the process, lender policy changes, and federal government mandates, your chances of getting a short sale approved are much greater than they were in the past. There isn’t any need for you to deal with all of the grief of being dragged through a public foreclosure.

 

*The following chart is a guideline, and should not be considered applicable to every case file. But it can serve as a rule of thumb in determining your best course of action.

Matter

Foreclosure

Short Sale

Credit Impact

Score may be lowered approximately 250 to over 375 points. Usually will impact credit score for 3-10 years

Only late payments on mortgage will show and after sale mortgage will be reported as paid or negotiated. This will lower the score as little as 50 points if you stay current on other payments. Short Sale impact can be as brief as 12 to 18 months.

New Loan-

Primary Residence

A homeowner who loses a home to Foreclosure is ineligible for a FNMA- Fannie Mae backed mortgage for a period of 5 years

A borrower who successfully negotiates and closes a short sale will be eligible for a FNMA-Fannie Mae backed mortgage after only 2 years.

New Loan-

Investment

An investor who goes through Foreclosure is ineligible for a Fannie Mae backed investment mortgage for a period of 7 years

An investor who successfully negotiates and closes a short sale will be eligible for a Fannie Mae backed investment mortgage after only 2 years.

Deficiency Judgment

In 100% of foreclosures (*except in those states where there is no deficiency) the bank has the right to pursue a deficiency judgment. *Current Anti-Deficiency / Non-Recourse States: Alaska, Arizona, California, Connecticut, Florida, Idaho, Minnesota, North Carolina, North Dakota, Texas, Utah, Washington…(Subject to change)

 

In many short sales it is viable to have the lender agree to waive the right to pursue a deficiency judgment against the borrower completely.


As mentioned, A Certified Fast Sale Agent will be working with the bank to handle all the paperwork necessary to help you stop the foreclosure process. When we talk about your case, and through the entire short sale process there isn’t any kind of cost that you will incur. My service as your short sale advocate is completely FREE.

 

As you can imagine, we have limited capacity, and because of the time sensitivity of stopping the public foreclosure process, call now. 2093212399 *You may also qualify to do a traditional Fast Sale if you act fast.


Find Out If You Qualify.

The State of California's Free Forclosure Prevention Program