West Sacramento Short Sale Information – Sacramento Short Sale Myths

West Sacramento Short Sale Agent, Default Advocate, Distressed Property Expert and West Sacramento Short Sale Specialist Mike Rigley here bringing you the latest West Sacramento Short Sale Information. Thank you for joining us. Today we are debunking West Sacramento Short Sale Myths. We’ll tackle Myths 1- 5 today and cover 6-10 next time. Let’s get starte

Myth #1: The West Sacramento homeowner must fall behind on mortgage payments in order to qualify for a short sale.

Debunked: Years ago this may have been true, but not now.

• A financial hardship must exist, such as the ARM (Adjustable Rate Mortgage) increasing in monthly payments.
• Loss of job or income.
• Health or medical issues.
• Extraordinary loss in home value (which may be considered a hardship).

Myth #2: Banks would rather foreclose on a property than approve a West Sacramento short sale.

Debunked: Not true. For the banks it’s all about the money and where will they lose the least amount – short sale or foreclosure. If the Bank will lose less money on a West Sacramento short sale than on a West Sacramento foreclosure they will take the West Sacramento short sale plain and simple.

Myth #3: West Sacramento Homeowners must be pre-approved by their lender to be eligible for a short sale.

Debunked: Absolutely not true. By and large, most lenders will consider West Sacramento short sale offers if it makes sense. Remember, for the banks it’s all about the money – where will they lose the least amount Short sale or foreclosure?

Myth #4: West Sacramento Short sales never close.

Debunked: Obviously not true. Nationally only about 40 – 50% of short sales close. We close 95% – well above the national average

Myth #5: West Sacramento Short sales take months (and months) to close.

Debunked: Nationally it takes 90-120 days to get a short sale approved. We average 42 days from offer submission to approval. While we can get it done quickly, we tailor the negotiations to fit your situation. If your desire is to stay longer we can do that too.

Next time we’ll talk about myths 6-10.

Is a West Sacramento Short Sale Right for Me?

To get a better idea of when your WestSacramento home will be worth what you owe, log in to www.shortsaleandloanmod.info for a free estimate or call me today for a free no obligation consultation or for the latest West Sacramento short sale information. Call me today and sleep better tonight; you’ll be glad you did