Short Sale Qualification

Do I Qualify for a Temecula Short Sale?

Do I qualify for a Temecula short sale? This has become a very common question among Temecula homeowners that are facing foreclosure. If you are a homeowner that is facing this stressful situation it is important to know that you are not alone. Many homeowners in Temecula are going through this process. It is also important to know that there are Realtors out there who are well versed in handling alternative options to foreclosure such as a short sale. Temecula Short Sale agents are experienced and will handle your short sale efficiently and successfully. Temecula short sale agents are dedicated to helping homeowners who are in crisis by providing them with the most updated and current information.

Do I qualify for a Temecula short sale? A key piece of advice to a successful short sale is staying on top of all the current foreclosure information and foreclosure alternative information, procedures, policies and laws that are always changing and being updated.

We make sure that whenever a homeowner calls our office we let them know that we are experienced and have the most updated information on short sales and foreclosure alternatives.

As Temecula short sale agents, we would like to point out that it is important to understand that there are never any guarantees that a lender will approve a short sale. The first step in determining whether or not you are eligible for a Temecula short sale and what your chances are of being approved for a short sale is to complete an intake interview with one of our agents.

The best way for us to describe what an intake interview is, is to explain that it is the opposite of a mortgage loan application. When a buyer is trying to qualify for a loan to purchase a home it is important to prove to the lender that they are in a sound financial position with good credit and that they have money to put down on their home. When you are completing a intake interview the homeowner will need to show the lender the opposite. We will want to show that you have had financial hardships and that there is no longer a sound financial position in the picture. It is important to show that you are no longer capable of affording your home. Upon proving these key points you will have the best chance to qualify for a Temecula short sale.

During the qualification interview one of our agents will disclose to the homeowner the possible outcomes of the short sale. The process will includes a list of financial questions that will be asked. Below are a few:

  1. How much money is the homeowner making now?
  2. What has changed financially for the homeowners.
  3. What are all of the expenses that you have? (a list of expenses will be requested)
  4. Do you expect a change in your income in the near future?

Please note that a short sale can still be approved with no hardship but the homeowner my be asked to contribute to the short sale.

When a homeowner that is considering a short sale asks “Do I qualify for a Temecula short sale” we know that this must be an emotional and very frustrating time in their lives. There is so much information out there regarding short sales. Please note that some of the information is myth and incorrect. We cannot stress enough how important it is to find an experienced agent to help guide you through your short sale process. We have exceptional experience in this area. For the best advice to questions that you may have please contact our office and speak with one of our agents today.