What Is A Short Sale?

You may have asked this question and yet you only see pitches to list your home, but what is the exact meaning of a Temecula short sale?

The process is rather simple to outline. Not so simple to execute. The Temecula short sale or “short pay” is simply an agreement by your lender to settle for a sale that produces less than what you actually owe on your home. Once the sale of your home is complete the lender and borrower call it even and walk away from the difference. The bank ends up with substantially more return than they would from a foreclosure and the homeowner saves a great deal of negative financial impact caused by foreclosure.

This definition is played out thousands of times over but every one is different and there is no guarantee that the outcome of a Temecula short sale will be a successful close. Any home can go into, or back into, foreclosure. It takes an experienced expert to move from approval to marketing to successful closing.

For sixteen years, I’ve been helping Temecula area homeowners just like you to avoid foreclosure and succeed in the best possible option- a successfuly closed short sale. Call me any time for help, inquiries and the assurance that comes from working with a local expert.