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Short Sales in Arroyo Grande, Avila Beach, Buellton, Grover Beach, Lompoc, Los Alamos, Nipomo, Oceano, Pismo Beach, San Luis Obispo, Santa Maria-Orcutt, Santa Ynez, Solvang

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What Should I Say In My Short Sale Hardship Letter?

As a Santa Maria short sale agent, this is probably the most common question I’m asked by potential short sale sellers. It can easily become the “never-ending term paper,” you know, the one you never start writing? Short sale sellers tend to put off and put off writing their hardship letter. It is a bit different than a loan modification hardship letter, where the purpose is to indicate that you have it hard but you can still afford to stay in the home if your lender makes a few changes to your loan.
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5 Reasons Why Now Is the Time For A Short Sale of Your California Home

California Senate Bill 458 (SB 458) - Just signed into law by Governor Jerry Brown on July 15, 2011 and effective immediately thereafter, it prevents junior lien holders who have accepted a short sale from pursing a deficiency against the short sale seller. This law expands the protection provided in Senate Bill 931, and is a major development in the area of short sales. And, I think it makes the case in favor of short sale vs. foreclosure
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What is a Short Sale?

What is a Short Sale? It seems that everyone is talking about short sales these days. But, what is a short sale? Simply put, a short sale allows you to sell your home for less than what you owe. It…

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Is A Short Sale The Same As A Pre-Foreclosure?

No, a short sale is not the same as a pre-foreclosure. A pre-foreclosure home has begun the legal process of foreclosure in California. Typically, this means that a Notice of Default has been sent to the home owner and filed at the County Recorder’s Office. Notices of Default are a matter of public record, and as such it is relatively easy to determine if a Notice of Default has been served on the property owner. After three months, if the Notice of Default is not cured by the home owner, the lender can then file a Notice of Trustee’s Sale. During this time period, people will often refer to a home as a pre-foreclosure.
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