Why the short sale is a viable option for a homeowner.

A foreclosure can have a devastating impact on someone’s credit report that will have a lasting effect for many years to come. A short sale is typically reported on your credit report as a debt that is “settled for an amount less than what is due”. A short sale will cause a large dip in your credit score, but it will be nowhere near as harsh or as lasting as the reporting of a foreclosure on your credit.

I have tracked some of my clients credit scores and have found that one year after their short sale their good scores have returned and even improved!

If you have the option a short sale should be considered. Your local short sale specialist will not charge you a fee for their service to short sale your home. If you want to purchase a home again in the near future don’t let you home go into foreclosure.

CHASE offers my Temecula Short Sale client $30,000.00 to make a fresh start. 

The letter from CHASE reads…

• RETURN YOUR LISTING AGREEMENT NOW
• OWE NOTHING MORE ON YOUR MORTGAGE
• GET $30,000.00 WHEN YOU SELL YOUR HOME.

  My clients had 20 days to respond, or the offer would no longer be valid.
  Chase told them to find a real estate agent with experience working with mortgage companies,
  they called me and asked for my help as their Temecula short sale specialist.

My clients were a bit skeptical as to if this was a true offer as most banks offer $3,000.00 not $30,000.00
to cooperate with the short sale process. I let them know it is a very limited offer and that Chase has sent this letter out to only a very few selected Temecula homeowners.

I listed their home and posted a copy of the letter here so you know this is a real offer from CHASE.

If your lender offers you the option of a short sale call me. I specialize in getting Temecula short sales approved discreetly. Call 951-217-6745 or go to www.aShortSale.com
 

Temecula homeowners rush to complete a Short Sale in 2012.

In just a short 12 months from now the protections offered to Temecula homeowners by 
the “Mortgage Forgiveness Debt Relief Act of 2007″ will expire. Congress passed this act to protect homeowners who have lost their homes. In summary this act protects you for up to $2 million dollars when a lender cancels or forgives debt in a short sale. The protection is in the form of protection from taxes.

You will not be responsible for paying taxes on the forgiven amount. This is the amount that your lender is required to put on the I.R.S  form 1099c which you will receive after a short sale is completed.

This protection applies to your primary residence only. I have provided a link here for you that will take you directly to the bill as it appears at the I.R.S. web site. 

This is why I believe in 2012 Temecula homeowners will rush to complete a Temecula Short Sale.