Are there any good reasons or benefits for completing a Santa Monica short sale? If you are upside down on your mortgage or property, then a Santa Monica short sale might be the right answer for you. By upside down, I mean you currently owe more than what your home is worth. If you complete a Santa Monica short sale, there can be several benefits for you the homeowner. A Santa Monica short sale can make it possible for you to be debt free with mortgage forgiveness and relocation assistance. Relocation assistance can be very helpful since the cost of moving can be a lot higher than you think.
When you complete a successful Santa Monica short sale, you will be able to avoid foreclosure. The lender will usually agree to accept less than what you owe and forgive the difference. You could possibly qualify for up to $3,000 in relocation assistance. If you have a legitimate hardship and are behind on your payments, chances are you could be approved for a Santa Monica short sale. You will most likely qualify for the relocation assistance. Another positive is completing a short sale will have less of an impact on your credit than a foreclosure will. Another benefit of completing a Santa Monica Short sale is that typically people are able to purchase a home again in as little as two years from the date of their short sale. So, completing a short sale may impact your credit, but only for a short amount of time. If you have any questions about the short sale process, please give us a call today. We would be happy to help you answer any questions you have. Thanks and we look forward to speaking with you soon.