Short Sale vs. Foreclosure

Short sales account for over 30 percent of the South Bay real estate market.  Homeowners who face foreclosure,  weigh in the benefits of a short sale versus foreclosure.  Here is the list of advantages of getting a home sold short instead of letting it go into foreclosure:

– You will be selling your home, not losing it to the bank- In a short sale transaction, you will be selling your home and retaining some dignity in the process.

In most cases, you will be clearing your debt– To qualify for a short sale, you need to prove you are selling because of a financial hardship. Very often, the debt owed to the lender is totally wiped away, helping you get back on your feet

– You do not have to pay your mortgage payments- While in the short sale process, it is likely you will not be required to pay any mortgage payments while still being able to live in the home.

– You will not damage your credit as badly – Your credit is drastically affected in a foreclosure . With a short sale, you’ll be able to purchase a new home much faster.

– You might be eligible to receive cash incentives at closing-  the HAFA or Home Affordable Foreclosure Alternatives Program is paying homeowners as much as $3,000 in relocation assistance.

If you’re considering a short sale, please conact me at (310)918-5027 or via email at for a confidential consultation.

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Short Sale


Foreclosure on a home has consequences for the family, the community, the housing market, and the economy.  However, the option for a short sale provides a way for troubled homeowners to prevent foreclosure and many of the dire penalties involved.
Short sale is an agreement with your lender, in which the lender agrees to accept a payoff on the loan for less than the balance.  Many lenders agree to a short sale because they receive more of the loan balance if the property ended up in the foreclosure.  The short sale process also aides in maintaining home values in the community and helps the homeowner maintain a better credit when compared with the foreclosure.   In most instances, homewners considering a short sale must meet certain criteria the lenders set, such as you will have to provide evidence of economic hardship and you must be behind in mortgage payments.
Short sale is not a typical real estate transaction.  There are many parties involved in a short sale.  The short sale process can be difficult to complete without a qualified Realtor to guide you and act as a liason between all  parties involved.  Homeowners considering a short sale should also consult their tax advisors and obtain the professional advise of an attorney to protect themselves from any future claims from their lender or the IRS.
Facing foreclosure is extremely difficult.  Finding hope and solution can be hard  when you’re behind with your payments and your lender does not seem provide you with any assistance.  There are options and solutions that can help you prevent foreclosure.
Please contact Krystyna Baty at 310.918.5027 or via email at for a Free and confidential consultation.  Any communication with our team will be kept in strict confidence.
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