It is important to take some kind of action because short sales can take six months or less to finalize, but keep in mind that we will handle all the negotiations to avoid the final foreclosure sale.
One common method to prevent a foreclosure in San Diego County and elsewhere is through the procedure known as "loan modification," but you need to start the process quickly. You can also sell your home before the bank takes back the title, but also need to take action fast. Whichever method you choose, the real estate professionals at Stop Foreclosure in San Diego can walk you through the process. Our services are explained below:
Loan Modification Service
We are known as a loan modification company and so we are experts in negotiation with banks to lower the interest, payments, or balance of your real estate loan. We only work with attorneys who do loan modifications for a living and so they are experts in handling the paperwork fast and efficiently. To fulfill the new California Law SB94, the attorneys we work with do not charge for the loan modification service until the process is complete.
Sell Your Home Fast with a Short Sale
Maybe you have almost no equity in your property or perhaps the balance on the loan is more than what the property is worth, known as an upside-down loan. We will work with your situation through a process known as "short sale" and pay cash for your property. Before making the sale, we negotiate the principal with your lender. And whether or not we engage in a short sale or a loan modification, the amount of your loan balance is irrelevant.
Loss Mitigation
When you avoid foreclosure with a short sale or loan modification, you are mitigating long term losses. Although your credit history is hurt by loan defaults, you can prevent the word "foreclosure" from showing up on your credit history for up to seven years. The banks like to work with us because they save money in the long run by not keeping the house and putting it on the market for sale, thus mitigating their own long-term losses.
You might be hoping that you can sell your house before the foreclosure date if you list your home with a real estate agent. In fact, it can take several weeks to several months just to get a reasonable offer and then it can take another several weeks to close escrow. If the buyer cannot qualify or finds another home to buy, they will cancel the deal and you have to list your home all over again, if there's still time to do it. But even if your property is listed with a realtor, we can offer a sales contract fast. It can take up to six months to finalize a short sale, but we work with your bank to try to make sure the process is completed before the foreclosure takes place.
In short, the foreclosure is going to happen, but you can mitigate your losses by making a strategic decision with regard to short sales or a loan modification.
Remember that if you need to stop foreclosure fast in San Diego, CA or anywhere in San Diego County, California, StopForeclosureSanDiegoCA.com is your best resource. If you want to keep your home, or sell it fast, simply visit StopForeclosureSanDiegoCA.com and claim your special report!
