LA City Short Sales, a division of Toni Patillo & Associates, is dedicated to assisting distressed homeowners nationwide by identifying and implementing the best available loss mitigation option to prevent foreclosure.
Following a thorough analysis of each situation by our specialist, we work with homeowners and their lenders to come up with the appropriate loss mitigation solution, whether it is reinstating the mortgage, a forbearance agreement, a loan modification, a repayment plan, a deed in lieu of foreclosure, or a short sale agreement. LA City Short Sales diligently works on behalf of the homeowner to market the sale, negotiate and secure a fair agreement with their lender.
The Short Sale
Also known as a real estate short pay-off or a pre-foreclosure workout, a short sale is an agreement with a lender to accept less than the amount owed by a borrower via a sale of the property to a third party. With this agreement, the lender releases the borrower from the mortgage, thereby preventing foreclosure.
What is a Loan Modification?
A loan modification is a change in one or more of the terms of a borrower’s loan, and results in a payment that the borrower can afford. These changes may include either an extension of the term of the loan, and/or a reduction or modification of the interest rate, the monthly payment, or the principal balance
If you would like to know more about the short sale process, review the Short Sale Process. Borrowers Options and our Option Comprison.
If you’re planning on buying review our Short Sale Listings, or search the MLS for properties in Playa Vista, Marina del Rey, Ladera Heights, Leimert Park/Baldwin Hills and Westchester. Get a free market snapshot today to learn more.
If you have any questions, please feel free to contact Toni Patillo directly.