When meeting with homeowners for the first time they are often unfamiliar with the short sale process and how it works. Venice short sales are being closed every day and helping distressed property owners get out from under their mortgage debt. At Toni Patillo and Associates we aim to educate homeowners on their options for avoding foreclosure through the means of Venice short sales.
The first thing a homeowner should know is that qualifying for a short sale will require a hardship. Many Venice short sales will have hardships including divorce, loss of job, or unexpected medical problems. When we submit your short sale file it will include a letter of hardship from you the homeowner explaining why the bank should allow your short sale. It is also important to know that a short sale does not directly hurt your credit score. Venice short sales will bring a halt to the foreclosure process which will do the most damage to your credit. Every time a homeowner misses a payment it is reported to the credit bureau. This is actually what causes the most damage to your credit score. That is why it is always important to contact a short sale expert as soon as you miss a payment. A lot of the Venice short sales I close are for homeowners who could have saved their credit score simply by acting faster. You should also know that Venice short sales generally do not cost you any money out of pocket. Our team is actually paid by your lender from the sale of your home and not from you the client. While it is possible to owe money at closing we will always negotiate with your lender to get this waived.
The more you know about Venice short sales the better opportunity you have to make the best decision. If you are struggling with your payments and not sure what to do a short sale may be the best option for you.