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

VIDEO: what is a short sale?

For more information about Santa Monica or Los Angeles short sales contact us at 310-737-8173

VIDEO: what is a short sale?

For more information about Santa Monica or Los Angeles short sales contact us at 310-737-8173

Inspirational Retreat Home, 425 26th St Santa Monica – North of Montana

For the buyers who have been looking for the perfect home, and seem to keep missing an opportunity, this is your time.

425 26TH ST, Santa Monica, CA 90402 (MLS # 11560737)

(all data current as of 3/27/2012)
Price $2,790,000
Beds 5
Baths 6 full, 1 half
Home size 4,876 sq ft
Lot Size 10,725 sq ft
Days on Market 162
Bank Approved Price. For the buyers who have been looking for the perfect home, and seem to keep missing an opportunity, this is your time. Your time to live in coveted North of Montana. Built in 2006, with a large lot, this is a legacy home you keep in the family. A custom home was created with care and thoughtfulness. Fall in love when you walk up to the impressive yet welcoming entry and every room will captivate your heart. Melt stress away in the steam room and lounge by the pool on balmy summer days. Grassy area beside the pool is perfect for outdoor parties or summer barbecues. Gourmet kitchen, laundry up and downstairs, and great closet space. Rare large lot, room to live, and great for entertaining guests. Gorgeous and inspiring home nestled in the perfect spot to reach Santa Monica and Brentwood's finest. A few blocks from Brentwood Country Club and a short walk to Brentwood Country Mart. Please do not disturb occupants. Call agent for showing.

Property Type(s): Single Family, Residential

Last Updated 3/14/2012 Tract n/a
Year Built 2006 Community Santa Monica
Garage Spaces 2.0 County Los Angeles
Total Parking 2 Walk Score ® 62

Price History

Prior to Nov 29, '11 $2,900,000
Nov 29, '11 - Mar 5, '12 $2,800,000
Mar 5, '12 - Today $2,790,000

Additional Details

Building Size 4876 CARETS Listing Status Active
Total Floors 0 Bath Full 6
Bath Half 1 HOAFee1 0.0
Zoning LARE11 Garage Spaces Total 2
Tax Parcel Number 4264004020

Features

Appliances Dishwasher, Garbage Disposal, Refrigerator
Bathroom Features Powder Room
Bedroom Features 2 Master Bedrooms, Main Floor Bedroom
Building Structure Style Mediterranean
Common Walls Detached/No Common Walls
Cooking Appliances Microwave, Range
Cooling Type Central A/C
Eating Areas Dining Area
Entry Location Ground Level w/steps
Fireplace Rooms Living Room
Floor Material Hardwood, Tile (N)
Garage Spaces Total 2
Heating Type Central Furnace
Interior Features Intercom
Laundry Locations Inside, Other - See Remarks
ListingAgreement ExclusiveAgency
Lot Description Lot Shape-Rectangular
Lot Size Source Vendor Enhanced (N)
Other Structural Features Balcony
Parking Features Direct Garage Access
Parking Type Garage
Patio Features Covered Porch
Pool Descriptions Heated
Rooms Den, FamilyRoom, LivingRoom, Other
Spa Descriptions Hot Tub
SpecialConditions Short Pay Subject to Lender
Square Footage Source Vendor Enhanced (N)
View Any View, Tree Top View

Location

Contact Kim & Kristine

310-737-8173