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A “short sale” generally is a great solution for homeowners that finish up in financial distress and wanting to sell their house. In this current Orange County, CA housing market, short sales are very common with more than one third of MLS listings falling into this category and banks have become increasingly receptive to transactions. As a possible Oc real estate agent and short sale specialist, I expect until this trend continue for that foreseeable future. With a positive note, ongoing changes to lending policies, improved bank processes, and government legislation have led to a large possibility of buying a short sale approved.

http://www.findcarealestate.com/

What exactly is a Short Sale?

• When a house owner owes on the house and property than it is currently of great benefit is known as “short”.
• A “short sale” is facilitated by agent who negotiates using a borrower’s lender(s) to just accept a loss of revenue on their loan at closing. The potential buyer purchases the property, for a cost that is definitely under the credit value.
• Short sales are often completed free of charge to your homeowner.
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Do you know the Qualifications for your Short Sale? Are you eligible?

• Financial Hardship -Any circumstances leading you to have problems affording your monthly mortgage.
• Income Shortfall -Your bank/lender will require someone to prove which you can’t currently afford your mortgage due to profits shortfall.
• Insolvency - Your bank/lender will need to note that you might be insolvent and don't have adequate assets to be charged your mortgage obligation.

http://www.shortsalesolutionsca.com/

The usual premise of a short sale may seem straightforward, but it can be quite a complicated process that demands expertise, experience, and persistence. If you are a Oc distressed homeowner and so are considering selling your property like a short sale, experts recommend you use a Orange County Short Sale Specialist and Certified Distressed Property Expert (CDPE® Designation), that is certified to give the experience and resources to explain your plan of action, and show you via a successful short sale. Given that you can actually stop foreclosure by successfully completing a short sale, it'll minimize negative impacts in your credit, avoid a public foreclosure, and help you to qualify for a fresh mortgage sooner - often within 18-24 months. So in the end, for a lot of Orange County greenies who are underwater, a shorter sale could be a smart sale and hang up you back on the road to financial stability.