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Need A Foreclosure Alternative? Santa Monica Short Sale Is Your Best Bet

Have you considering a loan modification on your home but have heard that they can often times be unsuccessful? Perhaps you should consider a Santa Monica short sale on your home instead. Santa Monica short sales are becoming the common alternative to foreclosure because many distressed homeowners are realizing that a loan alternative might not be the best option for them after speaking with their lender.

It’s true that a loan modification used to be the foreclosure alternative that homeowners sought when detailed with a foreclosure situation but the truth of the matter is that the entire loan modification process leaves much to be desired when it comes to helping homeowners avoid foreclosure. That, along with the vast improvements of the short sale process across the board by lenders, makes it much more appealing for homeowners to complete a Santa Monica short sale. The loan modification process is deterring to homeowners because often times it can take weeks or even months to hear back from your lender on whether or not you’ve been approved for a loan modification; some homeowners actually never hear back and for those that do it’s already too late and they’re in the middle of the foreclosure process. For those homeowners that are lucky enough to get a reply from their back and get approved for a loan modification, the results, sadly, aren’t that good. A majority of the time loan modifications aren’t that big of an adjustment to the loan and the homeowner typically finds themselves back where they started: facing foreclosure once again.

If you’ve heard plenty about loan modifications and their deceptive ways then you already know that a Santa Monica short sale is probably the foreclosure alternative for you. Contact a Santa Monica short sale expert today to learn more about the process and get your Santa Monica short sale underway.