How Can a California Short Sale Specialist Help Troubled Homeowners?

How Can a California Short Sale Specialist Help Troubled Homeowners?

Even with moving assistance and financial aid packages starting to pour in from banks, there are still hundreds or even thousands of homeowners who won’t qualify for such help and are thus in dire need of the services of a Santa Monica short sale specialist. Some time ago, the courts have ordered a number of banking corporations to offer additional financial aid – or even return deeds to previously foreclosed homes – to homeowners who have been wrongfully evicted from their properties.

If, however, you are only in the brink of foreclosure then such financial aid packages are not yours to enjoy. There is still a good chance that your bank or creditor would seize your property and foreclose it if you don’t take proper precautionary measures ahead of time. One such measure would be to approach a California short sale specialist and get him or her to help you.
Are Short Sales the Ultimate Solution?
Unfortunately, not all homeowners would be considered eligible for short sales. The conditions vary from one creditor to another. Ultimately, however, you or – more specifically – your Santa Monica short sale specialist would have to prove that it’s to everyone’s benefit that you are allowed to short sell your home as soon as possible.
What Do Short Sales Entail?
Let’s say that your house in Santa Monica may be sold today at $1,000,000. Unfortunately, your home used to be worth $1,20,000 and in fact you have mortgaged it to the hilt and thus owe the bank $1,200,000. Obviously, it would be pretty impossible for you to sell your home at its original price. But if you sell your home based on its current market value, then that would mean losing about $200,000 in the process.

  • $1,200,000 Original value of your home or the amount of your mortgage balance
  • $1,000,000 Present market value of your home
  • $200,000 Negative balance if you sell your home at its present market value

This won’t be that big a problem if you fully own your property and it’s not encumbered in any way. Although you are losing $200,000 technically, it’s not something that would significantly hurt your finances.
But it’s different if you owe $1,200,000 on your home and are no longer able to keep up with mortgage payments. To prevent foreclosure and an unwanted blemish on your credit record, you would need to sell the home. But even if you do sell it, you would still be left with a $200,000 debt you can’t pay.
Now, this is the part where a Santa Monica short sale specialist can step in and help you out.
A short sale specialist would do the following to ease your burden:

Prepare a short sale package to convince your creditor about the rightness of short selling your home
Find a buyer for your short sale home
Obtain the best possible post-short-sale condition for the remaining $200,000 balance of your mortgage
Expedite the process for selling your home to prevent foreclosure

Fore more information contact Kristine Halverson of Prudential CA Realty, at 310-737-8173

Santa Monica California Condo Short Sale! North of Wilshire – 1144 10th St

North of Wilshire condo, South of Wilshire prices.

Walking distance to Santa Monica’s best restaurants; Santa Monica Seafood, Huckleberry, and Rustic Canyon. A personal favorite place is vintage car showroom: Cars With Class.  Six blocks to Santa Monica’s famous 3rd St Promenade, and ten blocks to Palisades Park. This condo is a front facing upper unit, sharing only one common wall. It is updated, all appliances are included, and you have a patio great for soaking up sunshine and ocean breezes.

To see this condo in person or to discuss short sales in Santa Monica. Contact Kristine at 310-737-8173

1144 10TH ST, Santa Monica, CA 90403 (MLS # 12576465)

(all data current as of 3/27/2012)
Price $507,000
Beds 2
Baths 2.0 baths
Home size 1,011 sq ft
Lot Size n/a
Days on Market 68
Turn-key condo, North of Whilshire, short distance to well-known restaurants. New kitchen cabinets, travertine back splash, granite counter tops, all stainless steel appliances, and stackable washer/dryer. Skylight in dining area. Newer bathrooms, granite countertops, travertine, and much more...Lots of storage. Hampton Bay fans in bedrooms, matte stainless door handles and pulls throughout. Low HOA dues which include water and basic cable.

Property Type(s): Condominium, Residential

Last Updated 1/30/2012 Tract n/a
Year Built 1963 Community Santa Monica
Garage Spaces n/a County Los Angeles
Total Parking n/a Walk Score ® 97

Additional Details

Building Size 1011 CARETS Listing Status Back Up Offer
Units Total In Complex 10 Total Floors 0
Unit Floor In Building 2 HOAFee1 256.73
Zoning SMR3YY Covered Spaces Total 1
Will Consider Lease YN N Tax Parcel Number 4281028100


Appliances Dishwasher, Dryer, Garbage Disposal, Refrigerator, Washer
Association Amenities Controlled Access
Association Rules Call for Rules
Building Structure Style Traditional
Cooking Appliances Microwave, Range
Cooling Type Ceiling Fan(s), None
Eating Areas Breakfast Counter / Bar, Dining Area
Floor Material Carpet, Tile (N)
Heating Type Central Furnace
Laundry Locations Inside
Legal Disclosures No Property Assessments (N)
ListingAgreement Exclusive Right To Sell/Lease
Parking Type Community Garage
Pool Descriptions No Pool
Possession CloseOfEscrow
Rooms LivingRoom
Security Safety Gated Community
SpecialConditions Short Pay Subject to Lender
Square Footage Source Vendor Enhanced (N)
View No View


Contact Kim & Kristine