As the home market continues to bounce around in Southern California many homeowners may be left frustrated and annoyed. For a good portion of the region those monthly mortgage payments have not been returning any equity for years. Thankfully your Venice Short Sale Agent may be able to help you complete a short sale on your property while remaining current on your monthly payments.
In the past a short sale required a very valid hardhip, such as loss of income, divorce, or death of head of house. Now a days it seems as though simply owning an underwater mortgage may be enough to qualify as a valid hardship. As more and more lenders realize that a short sale is the best interest of both parties many Venice Short Sale Agents have been able to take advantage. When a home enters in to foreclosure your lender becomes responsible for the montlhy expenses and upkeep. Simply put your lender is in the business of lending and making money and not owning distressed properties. Even better, if your Venice Short Sale Agent is able to help you sell while staying current they may be limited damage to your credit. One of the many misunderstandings of a short sale is that it will ruin your credit history. In all honesty the most damage to your credit is usually a result of missing your monthly mortgage payment multiple times. This means homeowners that are still current on their payments can sell for less while also finding their next home. And if your Venice Short Sale Agent has experience with one of the many incentive programs you can even receive cash at closing. If your home is severally underwater waiting out the market may not be an option for you.
Give Toni Patillo and Associates a call today if you are tired of making those monthly payments without seeing any return on equity. This opportunity may not be around for ever so it is important to take advantage while you can.