Huntington Beach CA – We often get asked if a short sale is even worth the effort. “Why don’t I just let the bank have the property”, sellers tell us. “I don’t ever think I’ll be able to fix my credit to be able to buy another house.”
When you are having a tough time financially, it may seem like you will never get back on your feet. But, most people do get back on their feet.
They find another job and start making money again. Their credit will usually be back to normal in 2-3 years, sometimes even sooner depending on the extent of the financial difficulties..
Why not buy a new home at that time? If you short sale, then you will be eligible to do that. Fannie Mae will consider you for a new loan 2 years after a short sale.
You would have to meet all of their credit guidelines and other lending criteria. Most derogatory credit items such as late payments or collections won’t have as much of an impact when they are 2 years old.
In addition, there are many ways to get derogatory items removed from your credit. The other great option is an FHA loan. FHA allows you to buy a home with only 3.5% down.
Current FHA guidelines will loan to you 3 years after a short sale. Contrast that with the 5-7 year wait required if the home is foreclosed on by the lender.
That is the number one benefit of a short sale. You can get back on your feet and buy another home a lot faster than if the lender forecloses on your home. Thinking about a short sale?
I can help you short sale your property and never pay the bank another penny. Send me an e-mail at Tony@HunthausenGroup.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 714-334-7808
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification? Our Huntington Beach loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.
Thanks for reading this, Tony Hunthausen.
Tony is a Real Estate Broker Associate at Remax Select One. Huntington Beach Short Sales Realtor:
Phone: 714-334-7808. Tony@HunthausenGroup.com.
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Tony Hunthausen specializes in loan modification assistance and short sales in Huntington Beach California. Huntington Beach Loan Modification Help, Huntington Beach Short Sales. Huntington Beach Short Sale Realtor , Short Sale Realtor. Huntington Beach CA Short Sales. Huntington Beach Realtor.
Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Tony Hunthausen’s personal views and do not reflect the views of Remax Select One.
This information on Huntington Beach Short Sales: Why Should I Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.