Pismo Beach, CA – Benefits of a short sale for Pismo Beach area and Santa Maria homeowners over a foreclosure are numerous and include the following:
- It can have a lesser effect on your credit score and you will recover more quickly
- You can buy a home again in as soon as 2 years vs up to 7 years for a foreclosure
- A foreclosure remains on your public record for 7+ years. A short sale is not reported on your credit history
- A foreclosure can affect current employment if you’re in a sensitive position and can affect future employment as many employers require credit checks for job applicants
- The lender can’t come back on you after the sale for the amount they “forgave” here in California
- You will not be taxed on the “forgiven” amount when the short sale is your primary residence in most circumstances if the short sale is completed by the end of 2012
- If you qualify for a HAFA short sale you will receive $3,000 at closing to move and get on with your life. Contact us to see if you qualify!
As you can see, there are many benefits of a short sale for Pismo Beach area and Santa Maria homeowners. Short sales take a lot of time to complete but the process is getting faster. A seller needs a good, experienced realtor who will stay in close communication throughout the process with the lender, the seller and the buyer’s agent.
For more information about how the short sale process works, or about any other foreclosure alternatives you may qualify for, call us today. We can help you alleviate the burden that the threat of foreclosure brings, and we can develop a strategy to help you breathe a little easier. When we talk, we will explain how the process works in detail and answer any questions you may have.
Spencer & Margaret are Realtors and owners of Ocean Breeze Real Estate and are a Certified Distressed Property Expert (CDPE) team.
Phone: 805-709-7646 & 805-709-8535. Email: OceanBreezeRE@gmail.com.
View our homes for sale at www.OceanBreezeRealEstate.com.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
Spencer & Margaret Morris specialize in short sales in Pismo Beach California and all of Five Cities, Santa Maria and the Central Coast California.
