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. Our real estate specialists at Stop Foreclosure in San Diego will help you choose a path that fits your personal and financial needs. More details on these choices follow:
Loan Modification Service
We are known as a loss mitigation company because we help foreclosed homeowners prevent further losses by lowing their loan balance, interest, and/or payments. We have strong relationships with attorneys who specialize in handling the many details of negotiating loans with banks, so your loan modification is handled efficiently. These attorneys will not charge any fees until the loan modification is complete, which is in full compliance with California Law SB94.
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 can still buy the property for cash through a "short sale." But first, we will negotiate the loan balance with your loan holder. And don't think that you owe too much or too little for us to work with you because we work with everyone.
Loss Mitigation
By following one of these two paths, you will be engaging in loss mitigation. One loss you don't have to incur is the negative effects of having a foreclosure listed on your credit report for seven years. When you prevent a foreclosure, the banks also mitigate their losses, which means that they save time in reselling the home and they save money because it costs money to own your home and to try to resell it in the marketplace.
You might want to list your property with a realtor and hope that someone buys your home before the bank takes back the property, but that rarely happens in a market where buyers have lots of homes to choose from and can take their time in looking for property. But in today's buyer's market, selling your home the traditional way can take many months. 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 we will still work with you even if your property is represented by a real estate agent. 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.
To wrap up, you can reduce your losses during a foreclosure proceeding by taking a proactive approach through a short sale or 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!
