Short Sale Experts
California Home Assistance is a professional short sale company with many years of experience in real estate. We have helped many home owners who are faced with high interest rates and bad loans and think they have no way out. Our experts here at California Home Assistance will assist you in removing bad mortgage debt, save your credit from a foreclosure, and help you into a fresh start.
California Home Assistance helps homeowners like you to negotiate the best solution for your specific needs. We work directly with your mortgage company and not a third party. What this means to you is quicker response times, a quicker short sale process, and help avoiding foreclosure. Best of all, our short sale services are completely free to the home owner.
California Home Assistance works with all lenders to achieve the best outcome for you. We have attorneys on staff which will help assist you in all of your questions in the short sale process. Our attorneys are on your side and will monitor your case through out the short sale process, all at no cost to you.
We have heard horror stories of home owners who have applied for a loan modification only to find that their money was taken by the loan modification companies or that their loan modification was denied. If you are in trouble with your home, call us today for a consultation. We are here to help you at absolutely no charge to you!
What is a Short Sale?
A short sale is the sale of a property for an amount that is less than what is currently owed. If your home is worth less than the amount you owe on your mortgage, then your best option is to short sale. We speak directly with your bank and the loss mitigation department to save your credit from a foreclosure and remove bad mortgage debt.
First, your lender will agrees to a short sale on the property due to a hardship. The lender then accepts an offer from a qualified buyer at the current market value and takes a loss on the loan. It is a benefit to the lender to proceed with a short sale rather than foreclose on your property. This lets the lender avoid future costs, such as auction fees, declining property value, and attorney fees.
How do I know if I qualify for a Short Sale?
Whether a borrower has never missed a payment or is on the brink of a foreclosure sale, California Home Assistance is here to help at no cost to you. If you are currently facing a hardship, call our short sale experts today.
- Are you upside-down on your current mortgage(s)? Click here to find out what your property is worth
- Are you late on your mortgage payments?
- Have you applied for a modification and have been denied?
- Have you received foreclosure notices?
- Have you received a Notice of Trustees Sale?
- Have your mortgage payments increased?
- Has your interest rate changed, and you can no longer make the payments?
- Has your income dropped dramatically?
- Have you lost your job?
- Do you want to avoid future collections?
- Has your job relocated?
- Have you been hospitalized or had a death in the family?
If you answered yes to any of the above questions, call us as soon as possible. We can help you start the short sale process today.
Short Sale vs. Foreclosure
Almost every option is better than foreclosure. Contact us today for a free consultation!
|Deficiency Judgment||Forgiven debt SB 931 - SB 458
(Tax Relief Act of 2007-H.R. 3648): You may not be held for the deficiency.
|You may be held accountable for the remaining debt.|
|Future Home Purchase
Fannie Mae Loan
|You will be eligible to purchase and get a Fannie Mae-backed mortgage after only 24 months.||You are ineligible to get a Fannie Mae-backed mortgage for up to 5 years.|
|Future Home Purchase
Fannie Mae Loan
|You will be eligible to purchase and get a Fannie Mae-backed mortgage after only 24 months.||You will be ineligible to get a Fannie Mae-backed mortgage for up to 7 years.|
|Future Loans with any Mortgage Company||In any future mortgage application, you will have to answer “NO” to the question “Have you had property foreclosed upon or given title or deed in lieu thereof of in the last 7 years?” There is no similar declaration or question regarding a short sale.||Any future mortgage application, you will have to answer “YES” to the question “Have you had property foreclosed upon or given title or deed in lieu thereof of in the last 7 years?” This will affect future mortgage rates.|
|Credit Score||Only late payments will show on your credit report. After a short sale, mortgage is normally reported as “paid as agreed”, “paid as negotiated”, or “settled”. This can lower the score as little as 50 points if all other payments are being made. A short sale’s effect can be as brief as 12 to 18 months.||Your score may be lowered anywhere from 250 to 300 points. Typically will affect your credit score for over 3 years.|
|Credit History||A short sale is not reported on a credit history. There is no specific reporting item for “Short Sale.” The loan is typically reported as “pain in full, settled.”||A foreclosure will remain as a public record permanently and on your credit history for 10 years or more.|
|Security Clearance||On its own, a short sale does not challenge most security clearances.||Foreclosure is the most challenging issue against a security clearance outside of a serious misdemeanor or felony conviction. If a client has a foreclosure and is a police officer, in the military, in the CIA, or in any other position that requires a security clearance, in almost all cases clearance will be revoked and the position will be terminated.|
|Current Employment||A short sale is not reported on a credit report and therefore is not a challenge to current employment.||Most employers have the right and are actively checking the credit reports of all employees who are in sensitive positions. In many cases, a foreclosure is reason for immediate reassignment or termination.|
|Future Employment||A short sale is not reported on a credit report and is therefore not a challenge to future employment.||Many employers are requiring credit checks on all job applicants. A foreclosure is one of the most detrimental credit items an applicant can have and in most cases will challenge future employment.|
|Moving Expenses||You may be eligible to receive up to $3,000 for a successful closed short sale for moving expenses under the HAFA program.||You will receive nothing from your lender if your property is foreclosed upon.|