Are you under water on your mortgage, behind on your mortgage payments, or both? If so, you’re not alone; many people have been and are in that same situation today. For millions of home owners over the past years, the ultimate solution to this predicament has been to pursue a short sale. A short sale allows you to sell your home, for less than you owe on it – and in most cases walk away without owing anything further on it. My Short Sale Guidebook was written to help home owners in California understand everything they need to know about the short sale process, including:
- What is a short sale, and how do you do one?
- The Foreclosure Timeline
- Notice of Default
- Different Types of Liens
- Preparing your Home for Market
- How to Start a Short Sale
- Short Sale Timeline
- Contents of the Short Sale Package
- Deficiency – who pays the difference?
- Taxation on “Phantom Income”
- Your Credit Score
- Understanding your relationship with your lender or servicer
- Alternatives to Foreclosure
- Required Forms, Disclosures, and Advisories
This guide is filled with tons of information you’ll need to help you make the decision to proceed with a short sale or not. The guide is free to anyone and can be found in the Owner Resources section of our web site which includes a number of additional reports, guidebooks, and tools that will help any seller sell their home for more money, in less time, and with the least amount of hassle and risk.