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Can a Short Sale work for you?

If there is equity in a home, there is no need to consider this option or any other distress sale options other than a traditional sale.

Homes with NO equity are the only contenders for this process.

Prior to considering this option, a homeowner should consult with a CPA/Tax Consultant, Lending Consultants, or Financial Adviser.

The sooner a homeowner in financial distress notifies the lender, the quicker and the smoother the process.

Please note that finance companies have different guidelines or processes that must be reviewed prior to considering this option.

Most lenders require the following financial package prior to approval:

  1. Homeowners must provide a Hardship Letter stating the reason why the default was unavoidable, involuntary, or beyond their control.
  2. Provide copies of the last two years of tax returns
  3. Provide copies of the last two pay stubs to confirm homeowner is unable to pay the deficiency in installments over time
  4. Provide copies of the two most recent bank statements to confirm the homeowner doesn’t have the money to pay some or all the deficiency.

To learn further if a short sale is acceptable for you, consult with Cesi Pagano and Associates directly.

Why Would a Bank Accept a Short Sale?

More Short Sale FAQs

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Cesi Pagano & Associates
Phone: (949) 370-0819
Email: Cesi@CesiPagano.com
Keller Williams Luxury International
Keller Williams Realty Laguna Beach

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Company Info

Cesi Pagano & Associates
27941 La Paz Road Suite #C
Laguna Niguel 92677
Phone: (949) 370-0819
Email: Cesi@CesiPagano.com

Cesi Pagano DRE 01043716                         
Keller Williams Realty DRE 01934115 

Recent Posts

  • Wellness Trends That Will Keep You Recharged in 2023
  • Butter Rum Cookies
  • Orange County Real Estate Market Update January 2023
  • Want To Sell Your House? Price It Right.
  • Think Twice Before Waiting for 3% Mortgage Rates

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