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Foreclosure vs. a Short Sale

Hello everyone, I’m Toni Patillo with Keller Williams Realty in Santa Monica. Santa Monica Short sales are on the rise in the Santa Monica area. If you are in a situation where you are behind on your mortgage payments and are currently underwater on your property, give us a call today so we can talk about your situation and help you discover if a short sale is right for you or if you should go down the foreclosure route. So, if you are underwater on your home, how do you know if you should go for the Santa Monica short sale or wait for the foreclosure? We realize everyone’s situation is different, but we are hoping that most homeowners would benefit from a Santa Monica short sale vs. letting their home go to foreclosure. Whenever people get to the point where they can no longer afford their mortgage payments, it’s time to start thinking about the possibility of completing a Santa Monica short sale.

If you decide to go through a foreclosure, one of the drawbacks is that your lender may decide to pursue you for the difference between what your house sells for and what you still may owe on the property. It’s a good idea to speak with a distressed property expert to find out what all of your options are including a Santa Monica short sale. If you decide to complete a Santa Monica short sale on your home, please contact us today so we can help you determine if a Santa Monica short sale is the best option for you and your family. We are here to help you answer any questions you may have about the Santa Monica short sale process. Thanks and we look forward to speaking with you soon.