Hello everyone, I am Toni Patillo with Keller Williams Realty in Santa Monica, California. Today I would like to talk to you about qualifying for a short sale. As a Santa Monica short sale agent, I get a lot of people coming to me wondering if they must be behind in their mortgage payments in order to qualify for a short sale. In the past, that was the case. Most lenders would not even consider approving you for a short sale unless you were behind on your mortgage or delinquent or in default. By default I mean the homeowner has received a notice of formal foreclosure proceedings. Things have changed somewhat. It is a good idea to start with a well known Santa Monica short sale agent who has the experience to answer all of your short sale questions.
These days a lot of lenders are looking for a legitimate hardship. If you think you could meet these requirements, a short sale could be your best option. Once you make the decision to contact an experienced Santa Monica short sale agent to complete your short sale, do not wait any longer. The sooner you act on the short sale, the better your chances are for getting approval. Again, I am Toni Patillo, your Santa Monica short sale agent and I am here to help answer any questions you may have about the short sale process. Remember, gaining approval for a short sale isn’t as difficult as it used to be, especially if you are working with a qualified Santa Monica short sale agent. Thanks and we hope to hear from you soon.