Posted on Jan 10, 2013 in Roseville and Sacramento Short Sale FAQs

Hi, this is Mark Peek with Keller Williams Real Estate, your short sale specialist in the Roseville and Sacramento area. I would like to tell you today about a short sale success story with a client of ours.

They were pretty delinquent in the process; they had probably missed about 8-9 months of payments. We really encouraged them to get their paperwork into us as soon as possible because there was already a notice of default filed on this property by GMAC. GMAC was definitely pushing and we had the feeling that the trustee sale notice was imminent; once that trustee sale notice comes, you only have 21 days before they auction your property off.

We started the short sale process once the homeowner got us all the paperwork. Right after we submitted the short sale package to GMAC, the homeowner received their notice of trustee sale, so now the question was whether or not we could get it postponed and try to get the short sale negotiated and approved. In this case, we were able to reach out to GMAC and get the trustee sale postponed. We were actually able to participate in a program called HAFA, which gave us four months to sell the property and we didn’t have to worry about a trustee sale for those four months. With HAFA we also had a pre-approved price that we could sell the home for.

If you have any other questions if you’re in a situation similar to this, you can always give me a call and I can check how far you are into the trustee sale process. Sometimes I can also find out when they might file a trustee sale. If you have any specific questions about your situation with your lender or any short sale questions in general, please give me a call or check out my website because I’d be happy to help you with your situation.

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