Short Sales & The Point of No Return
Have you reached the point of no return? I meet and speak with people considering short sales almost everyday. Some are ready to begin the process and some are not. I tell each one of them — I don’t talk people into short sales — most people who want to list their home as a short sale know it before they call me. Usually, they’ve already met with an attorney and their tax professional (often one of those professionals recommends the short sale). They understand the tax, credit, and legal consequences, and want to proceed right away because they have reached the point of no return.
What is the point of no return? For each person it is different. There may be a trigger — your hours are reduced at work, a health event due to the financial stress and strain, or the first month you really can’t make the mortgage payment has finally arrived. These are indeed tough economic times for all. Many of the people that call me have never even had a derogatory on their credit report — often they have used credit cards and depleted savings trying to stay afloat — and then the day arrives when they realize that they cannot do it anymore. They have reached the point of no return and must explore a short sale as a possible solution to their financial difficulty.
No matter where you are with your decision making, I am available to speak to you about the short sale process. If you are considering a short sale of your Santa Maria, Orcutt, or Nipomo home, you should seek out an experienced Central Coast Short Sale Agent to guide you through this process. Please feel free to call my office to schedule a meeting or a telephone consultation at (805) 938-9950.
Tni LeBlanc is an independent Real Estate Broker, Attorney, and Short Sale Agent. She is a Certified Distressed Property Expert (CDPE) and Certified HAFA Specialist (CHS) serving the Santa Maria, Orcutt and Five Cities area of the Central Coast of California.
* Nothing in this article is intended to solicit listings currently under contract with another broker. This article offers no legal or tax advice. Those considering a short sale are advised to consult with their own attorney for legal advice, and their tax professional for tax advice prior to entering into a short sale listing agreement. Mint Properties is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.
Copyright© 2011 Tni LeBlanc *Short Sales & The Point of No Return*
