PALM SPRINGS SHORT SALE
Palm Springs Short Sale can be a very frustrating ordeal for many agents (We have 100% success rate with all banks). Our main goal is to get you out from under your upside down home so you can get on with your life.
In real estate, a short sale is a sale of real estate in which the proceeds from the sale fall short of the balance owed on a loan secured by the property sold. In a short sale, the bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship on the part of the mortgagor.
A short sale typically is executed to prevent a home foreclosure, but the decision to proceed with a short sale is predicated on the most economic way for the bank to recover the amount owed on the property. Often a bank will allow a short sale if they believe that it will result in a smaller financial loss than foreclosing as there are carrying costs that are associated with a foreclosure.
In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Recent changes in corporate policy and the Obama administration have also improved the chances of getting a short sale approved.
If you have recently had an interest rate adjustment, are behind on mortgage payments, have been contacted by your lender about a foreclosure, or are considering selling your home to avoid a foreclosure, fill out the information below or contact Dan Becker. We respect your privacy and will not release your information to anyone.