San Diego Short Sale Process-Owe Too Much To Sell Your San Diego Home?

San Diego Short Sale Process

Do you owe too much to sell your San Diego Home?

San Diego home owners are facing some tough questions, such as, what to do if you owe more than your San Diego Home is worth?

Many San Diego home owners are facing the fact that their number one investment (their home) is worth less than they owe. In some cases, it doesn’t matter: they know that they will just keep making their payments and time will take care of it.

After all, the payment made sense when they bought it and they don’t have a pressing need to sell their San Diego home.

What if you don’t have that time? Perhaps you are facing a hardship such as death, divorce or a job transfer. Then you may want to consider meeting with San Diego Short Sale Specialist Gary Kent to discuss your short sale options. Even if your hardship is not a dire as death, divorce or a job transfer call Gary Kent at 858-457-5368 to discuss your short sale options with a real estate agent who is a bank short sale expert for a quick confidential analysis of your situation.

Another resource is to check out our website www.ShortOrStaySanDiego.com San Diego short sale expert Gary Kent has written the book on short sales. Gary would like to offer the San Diego Short Sale Guide to you for free – Click Here. The Gary Kent Team of Keller Williams is a California Real Estate Broker, License 00862878. We are not licensed to provide legal or tax advice and we encourage our clients to seek legal and/or tax advice early in the short sale process. Click here for more information on San Diego short sales: <h1>San Diego Short Sale Process</h1> San Diego short sale expert Gary Kent has written the book on short sales. Gary would like to offer the San Diego Short Sale Guide to you for free – Short Sale Guide. To find out how much your San Diego home is worth compared to owe much you owe, go to www.ShortOrStaySanDiego.com

San Diego Short Sale Process

The Gary Kent Team 858-457-5368 of Keller Williams is a California Real Estate Broker, License 00862878. We are not licensed to provide legal or tax advice and we encourage our clients to seek legal and/or tax advice early in the short sale process.

Gary Kent Pictureby Gary Kent. Gary has successfully helped well over 200 clients and their families sell their homes or other real estate via a short sale. In 1991, he closed his first short sale for a young family, and since has been helping clients get out of stressful financial situations, escape from “under water” mortgages, avoid foreclosure (and the accompanying stigma), save their credit, and maintain their pride through a short sale. You can find Gary on Facebook, Twitter and .

Do you owe too much to sell your San Diego Home?

 

San Diego Short Sales Hardship Letter – San Diego Short Sale Process

A key part of the short sale process on your San Diego home is the Hardship letter.

In this video, San Diego short sale expert, Gary Kent explains about doing a short sale on your San Diego home.

To complete the short sale process on your San Diego home starts much like when you borrowed on it to purchase it… ONLY the opposite! We need to show that unlike when they made a loan to you, the circumstances have changed.
Generally, we need to prove three key components in the short sale process to prove to the bank that you are not so strong:
1. Hardship – Something has changed in your life that was out of control. This part of the San Diego short sale process is call the hardship letter. We want you to show that the hardship is causing you to need to sell. Typical hardships include: illness, death, divorce, loss of job or hours/overtime, caring for a family member or even and “exploding ARM.” For some banks, the hardship is not as critical as others in the short sale process.
2. Finances – In this part of the short sale process, we will present your current financial situation to the bank. They will look at your income and assets to help them determine if there is a hardship sufficient to approve a short sale on your San Diego home. Remember to always be truthful (do not commit fraud) and share all income and savings and retirement information. Although typically, they might not look to your retirement.
3. Home Value – Again, this part of the short sale process is to prove that you do not have enough equity in your San Diego home to sell it for enough money to pay off the loans. The bank may send out an appraiser or another broker to do a Broker Price Opinion (BPO) to confirm the current home value.
http://youtu.be/SMPavStuk00
To get a quick idea of whether you have equity in your home and/or how long it will take to get back to having equity, please visit www.ShortOrStaySanDiego.com for a quick and free evaluation.
Gary Kent Pictureby Gary Kent. Gary has successfully helped well over 200 clients and their families sell their homes or other real estate via a short sale. In 1991, he closed his first short sale for a young family, and since has been helping clients get out of stressful financial situations, escape from “under water” mortgages, avoid foreclosure (and the accompanying stigma), save their credit, and maintain their pride through a short sale. You can find Gary on Facebook, Twitter and Gary Kent on Google+

Gary Kent is a licensed broker in California 00862878 and is not licensed to give legal or tax advice.  You are encouraged to review your situation with the appropriate professional.

Can I get paid moving costs by the bank to short sell my San Diego home

My San Diego Home, Can I Get Paid To Do A Short Sale? San Diego Short Sale Relocation Money

A frequent question our San Diego Home owners ask us when they need to do a short sale is “Will the bank pay me anything to short sell my San Diego home?”
This term has several names but the more official term is “relocation assistance” and the more familiar is “cash for keys.”

Sometimes the answer is yes. The short sale program called HAFA already has a formula to help homeowners with the move out of the home.
While “cash for keys” is very common after a San Diego foreclosure, this is a new option on short sales in San Diego.

Other major banks, such as Bank of America, Wells Fargo & Chase may consider it on a case-by-case basis.
A big hurdle depends on just who owns the loan and what their guidelines are. Remember, the company
that you make your mortgage payment to, might not be the same one that actually owns the loan.
They may be what is called a “Loan Servicer.” But, often they will have guidelines that will allow them
to offer something to the San Diego short sale seller to help them move.

So, if you own a San Diego home and are concerned about how much your home is worth compared to home much you owe,
you have options. One is to contact San Diego short sale expert Gary Kent at 858-457-5368.

Another is to visit www.ShortOrStaySanDiego.com put in your property information along with your loan information and
Gary will send you a report that will give you an idea if you have any equity or how long (months/years) before your
San Diego home is worth more than your loans.

San Diego Short Sale Guide San Diego Short Sale Package

San Diego – My Short Sale Guide Blog Series – Short Sale Package The San Diego Short Sale Package

The documentation required to process a San Diego short sale is commonly referred to as a “Short Sale Package” and is usually submitted by the agent representing the San Diego home seller or the seller of the property themselves if they are attempting to do the short sale on their own. Here’s a sample short sale package:
* Note that items may vary depending upon the lender.
Cover Letter.
Authorization to Release Information Sellers Hardship Letter
2 years W-2’s.
2 months pay stubs.
2 months bank statements.
Supporting Hardship Info –
HOA liens, medical/disability statements etc.
Repair Estimate for the property (when necessary).
Comparable area sales Listing &
Purchase Contract(s).
HUD-1 net sheet (provided by escrow). First mortgage holder may ask for a payoff amount from the 2nd (obtain pay-off statement from lender).
Second mortgage holder may ask for a payoff amount from the 1st (obtain pay-off statement from lender). Lender may ask for an Initial Title Report. FHA and VA may have their own forms and special requirements as well.

If you plan to work with a San Diego real estate professional and can have your last two years tax returns as well as past two months bank statements and pay stubs together with your hard ship letter and authorization to release information statement for them at your initial meeting you’ll give them a running head start and they will love you! Call
San Diego short sale specialist Gary Ken
t at 858-457-5368 for a quick confidential analysis of your situation.
San Diego short sale expert Gary Kent has written the book on short sales. Gary would like to offer the San Diego Short Sale Guide to you for free – Short Sale Guide.

To find out how much your home is worth compared to owe much you owe, go to www.ShortOrStaySanDiego.com  

The Gary Kent Team of Keller Williams is a California Real Estate Broker, License 00862878. We are not licensed to provide legal or tax advice and we encourage our clients to seek legal and/or tax advice early in the short sale process.

San Diego Short Sale Guide – Short Sale Solution Series-1

San Diego – My Short Sale Guide Blog Series – Short Sale Solution-1

The San Diego Short Sale Solution part 1

So, what exactly is a San Diego short sale? Put simply, a short sale is a home sale in which the amount owed to the lender(s) is more than the net realized from a sale. Instead of the owner having to bring in their hard-earned money to complete the sale, it’s completed through negotiations with the existing lender(s) or lien holder(s) who then agree to accept less than the full amount owed and allow it to be paid off “short.”
Now don’t get me wrong. Short sales in San Diego are most definitely a different animal than a regular San Diego real estate transaction because if and when you stop making mortgage payments, the clock starts ticking and the hangman starts preparing his noose.

You’ll likely only get one shot at a successful short sale on your San Diego home. If your agent is inexperienced at short sales, makes mistakes, gives up, slacks off, drops the ball, or simply doesn’t know how to negotiate with banks, you could wind up foreclosed on. And you do not want to go through a foreclosure.

A foreclosure would devastate your credit. Your “FICO” score could be lowered by as much as 200-400 points and you’ll be hounded day and night by your lender. Even worse, you’ll have difficulty getting credit cards, auto loans or even renting a home or an apartment for the next 7 years.
If that’s not bad enough, some prospective employers require credit reports, so that could put the kiss of death on job opportunity. And if you require a security clearance for your job, a foreclosure could be a BIG problem.
Not meaning to pile on, but often the very worst impact of a foreclosure on your San Diego home is the self-imposed stigma and shame that can be felt by the owner or their family.
If you were foreclosed, your home would be repossessed by the bank and the bank will sell your San Diego home, either at auction, or more likely through a San Diego real estate agent, with a large sign out front that says “Bank Foreclosure”.
Still reading? Watch for part two
Call San Diego short sale specialist Gary Kent at 858-457-5368 for a quick confidential analysis of your situation.

San Diego short sale expert Gary Kent has written the book on short sales. Gary would like to offer the San Diego Short Sale Guide to you for free – Short Sale Guide.

To find out how much your home is worth compared to owe much you owe, go to www.ShortOrStaySanDiego.com

The Gary Kent Team of Keller Williams is a California Real Estate Broker, License 00862878. We are not licensed to provide legal or tax advice and we encourage our clients to seek legal and/or tax advice early in the short sale process.

Gary Kent Pictureby Gary Kent. Gary has successfully helped well over 200 clients and their families sell their homes or other real estate via a short sale. In 1991, he closed his first short sale for a young family, and since has been helping clients get out of stressful financial situations, escape from “under water” mortgages, avoid foreclosure (and the accompanying stigma), save their credit, and maintain their pride through a short sale. You can find Gary on Facebook, Twitter and .

 

What You Should Know About Short Sales in San Diego

San Diego – My Short Sale Guide Blog Series – overview

What You Should Know About Short Sales in San Diego

Let’s start with the end in mind. It’s important that you’re clear about your goals from the beginning. If you’re a San Diego home owner looking for a way out of a stressful situation I trust that you’ll find practical and useful information here.

Because I write these blogs for San Diego homeowners, I’m going to assume that you or someone you know are facing San Diego foreclosure and looking to find a way out. So I’ll do my best to help show you that way. I’ve helped hundreds of people escape foreclosure and am confident I can help you as well.

Whether you’re current on your payments or months behind, I’ll tell you exactly what to do next if you want your bank to seriously consider accepting tens or even hundreds of thousands of dollars less than is owed them and agree to pay all of the costs and fees associated with the sale of your home through a real estate short sale.

In this practical blog, I’ll provide step-by-step instructions for selling your San Diego home for less than you owe the bank(s) and with absolutely zero expense to you.

When I’ve finished sharing all of my San Diego short sale secrets with you, you’ll know more about creating a successful real estate short sale than most of the so-called short sale experts who may be leaving flyers at your door step attempting to sell you on their services, if they’re not doing so already.

Let me say this. I understand how you’re feeling right now. Thousands of other San Diego homeowners have either recently faced, are currently facing or will soon be facing a situation very similar to your own.

Many San Diego families weren’t even aware of the short sale option or chose the wrong real estate advisor to help them and lost their homes to foreclosure, destroying their credit in the process. One thing is for certain, there’s light at the end of the tunnel and whether that light is salvation and a new beginning or a train coming at you is now up to you. Seeking the right information right now is a smart move on your part.

With a San Diego short sale expert’s help, a San Diego real estate short sale can save your credit and provide a fresh start without the added weight of a foreclosure on your credit report dragging around behind you like an anchor for years to come.

I wrote this blog for people like you and me. The thought of a San Diego County Sheriff knocking on my door and telling me and my family that we’d have 30 minutes to get everything we can carry or load into the car and get out was unfathomable to me.

I’ve helped many other San Diego home owners avoid it. And I’ll do my best to help you avoid it. All you need to do is use the information and the tools I provide to take immediate action. Working together, I can almost guarantee you success but you must act quickly and find an area expert who knows your market place. Don’t worry about that part yet though because I’m going to show you how.

Call San Diego short sale specialist Gary Kent at 858-457-5368 for a quick confidential analysis of your situation.

San Diego short sale expert Gary Kent has written the book on short sales. Gary would like to offer the San Diego Short Sale Guide to you for free – Short Sale Guide.

To find out how much your home is worth compared to owe much you owe, go to www.ShortOrStay.com

The Gary Kent Team of Keller Williams is a California Real Estate Broker, License 00862878. We are not licensed to provide legal or tax advice and we encourage our clients to seek legal and/or tax advice early in the short sale process.

Pre-Approved HAFA San Diego Short Sale Process

 

PRE-APPROVED HAFA San Diego short sale in process.

 

When our clients contacted us about their delightful home in great Del Cerro neighborhood!  4BR/3BA Home in Del Cerro. 2,626 S.F. Built in 1959 we were pleased that it was HAFA short sale eligible.  As with any San Diego short sale, the market value was less than the two loans that need to be satisfied

 

This San Diego home offers 2 master suites, downstairs master bedroom with sitting area, access to patio, skylight & bay window! Huge upstairs private master bedroom could be split as 2 BRs!  The family room features a brick fireplace perfect for warming up on a brisk night.  Sharp kitchen with wood cabinets, beautiful backyard with large patio & grassy area!  Across from Del Cerro Park, close to Hearst Elementary & walking distance to “Windmill Farms” shopping center! Close to SDSU campus and I-8 freeway entrance to make for an easy commute!

 

The San Diego home owners that are facing a serious illness as a hardship needed the Gary Kent Team’s San Diego short sale experience to help them through this stressful time.  We were able to put it under contract in as-is condition with no pest clearance

 

We’ll update this post after we have closed escrow on this PRE-APPROVED HAFA San Diego short sale in process.   In the meantime, click here if you need to find out how long it will take to an idea of how long it will take for your San Diego home value to get “above water.”

Or contact San Diego Short Sale Specialist, Gary Kent at 858-457-5368

 

Short Or Stay San Diego – Gary Kent Short Sale Specialist

Should you Short Sell or Stay in your San Diego Home? That is a question many San Diego home owners ask me.

Hi, my name is Gary Kent.  I’ve been a REALTOR since 1984.

With the San Diego real estate meltdown, it’s been a difficult time for many people like you.

If you are frustrated trying to make payments on a home that’s underwater.

If you are concerned about how long it will take for your San Diego home to be worth more than your mortgage.

If you are unsure if a short sale is the right solution for you and your family

Then use my free “Short or Stay Calculator” on http://www.ShortOrStaySanDiego.com

It tells you simply & easily if you should keep your home or other real estate, or if you’re better off doing a short sale.

So, go ahead, try it out & see what it tells you, or call me, Gary Kent at 858-457-5368.

 

 by Gary Kent