Do I Make Too Much Money To Short Sell My Home?

Posted on Sep 25, 2012 in Roseville and Sacramento Short Sale FAQs

Hi this is Mark Peek with Keller Williams Real Estate, your Roseville and Sacramento short sale specialist. I want to talk today about qualifying for a short sale because one of the questions I get a lot is from people wondering if they make too much money to qualify for a short sale. I can tell you that I’ve completed short sales with lots of different borrowers with lots of different financial situations ranging from having no job to folks that make close to one million dollars a year. So the banks will still approve the short sale. Now there might be a different way of getting it approved and there is not a guarantee they will approve it, but they are likely to if they are in a position of choosing a short sale over a foreclosure.

If you have any specific questions about your financial situation and you are considering a short sale, give me a call. We can go over your situation and see if a short sale might be a good fit for you and how that might work out. If you are on the fence and wondering if you should do it, and want to check out a short sale to see if it’s right for you, check out our short or stay calculator. You can find it on our website and all you have to do is enter in your property information and they will send you a detailed report. It will give you an idea of how long it will take you to break even on your house. You will get a better idea of whether or not it’s a good deal to stay there, or if it would be better to short sell it. These are questions we hear all the time and this is a great tool that a lot of people like using. We can go over the results together.

Again, this is Mark Peek with Keller Williams, your Roseville and Sacramento short sale specialist and I’m here to help. Please contact me today so I can help answer any questions you may have. Thanks and I look forward to working with you soon.

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If My Home Is In Need Of Repair Can I Still Complete A Short Sale?

Posted on Sep 6, 2012 in Roseville and Sacramento Short Sale FAQs

Hello everyone my name is Mark Peek with Keller Williams Realty here in Roseville and Sacramento thank you for your time today. I work with distressed property owners in the Roseville and Sacramento area every day and use this blog to provide up to date information on your options for avoiding foreclosure. If you are struggling to pay your mortgage each month or are already considering a short sale on your property take a minute to browse my website or call me directly to learn more about your options and start your file today.

For my blog topic I wanted to talk with Roseville and Sacramento homeowners who are considering a short sale on a property that may not be in the best shape to sell. This is a conversation I have with a lot of homeowners who are concerned their homes condition will prevent a short sale and this is simply not true. All of my short sales properties are sold as is and I have sold several homes that were in need of repairs or remodels. Any repairs or improvements will need to made by the buyer once we have received your short sale approval letter and closed on the property. I am currently working on a short sale where the main floor of the home was flooded and caved in causing immense damage to the sheet rock and flooring. Nonetheless this short sale is going smoothly and I hope to have an approval in the near future.

If you are holding back from a short sale due to the current condition of your home call me today and find out if a short sale is still possible. I can also be reached via my website where you can find a great new tool called the Short Or Stay Calculator. Thank you for your time today and I look forward to helping you with your real estate needs in the future at Keller Williams Realty in Roseville and Sacramento.

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How to Know if You Have a Valid Hardship In Order To Complete a Short Sale

Posted on Dec 7, 2011 in Roseville and Sacramento Short Sale FAQs

Hi, I’m Mark Peek with Keller Williams Real Estate, one of Roseville and Sacramento’s short sale specialists. I wanted to talk to you about hardships today. I get a lot of questions dealing with homeowners wondering if they have a valid hardship, or wondering if they would qualify for a short sale.

Typically the valid hardships that banks will entertain are loss of job, increase in debt, or relocation. They all typically go back to one thing and that’s not enough money. So you don’t have enough money to sustain this residence and move to another property or you don’t have enough money to maintain this property at this current mortgage. That’s not to say that they wouldn’t approve a short sale if you didn’t have a hardship. It is on a case by case basis.

I have completed short sales and most of the time my sellers have a valid hardship. I have also closed short sales where my sellers didn’t really have a valid hardship, so it’s really lender based and what their opinion of it is. If you back a lender into a corner, and you’re not making payments then they just have to make a loss mitigation decision maybe they don’t like it, but it is absolutely cheaper for them to complete a short sale over a foreclosure.

So, if you have any questions on your specific situation, give me a call. Again, I’m Mark Peeks with Keller Williams Real Estate, one of Roseville and Sacramento’s short sale specialists and I look forward to working with you soon. Thanks and have a great day.

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