Helping Homeowners Avoid Foreclosure in Roseville and Sacramento

Is it Difficult to Receive an Approval on a Homeward Residential Short Sale on My Home?

Posted on Dec 1, 2012 in Roseville and Sacramento Short Sale FAQs

Hi, this is Mark Peek with Keller Williams Real Estate, your Roseville and Sacramento short sale specialists. Today our topic is on Homeward Residential and a recent Short Sale success with them. We just closed one with Homeward Residential and this one was a second lien. It was a line of credit and it was a GMAC Mortgage. It’s actually good that the homeowner chose short sale in this case because we had a line of credit in second position, if the first foreclosed and in this case it was Homeward Residential, they would still be liable for that line of credit from GMAC. GMAC could have the rights to pursue them. So in this particular case a short sale really has a huge benefit to the borrower even more so because of the deficiency rights that were possible.

So if you have any questions about your mortgage, and you either have a mortgage with Homeward Residential or maybe GMAC Mortgage or even someone else out there, give me a call. Let’s talk about it and look at your situation and we’ll see if a short sale is a smart move for you or not. One of the things I recommend is to take a look at the short or stay calculator on my website. All you have to do is enter in your property information and it will give you a full detailed report on whether or not a short sale might be a good idea and how long it’s going to take for you to break even if you continue making payments where you’re at. Again, I’m Mark Peek with Keller Williams, your Roseville and Sacramento short sale specialist and I’m here to answer any questions you may have about the short sale process. Thanks and have a great day.

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