Redding short sale help-

Are you upside down on your home? Do you owe more on it than it is currently worth? You are not alone! There are hundreds upon hundreds of people right here in the Redding Ca area that are in the same position.

It's not your fault.The market made a quick downturn that caught many people off guard including Realtor/Lenders/title people and people just like you!

There is an option to Foreclosure that you may or may not have heard about. It is called the "Short Sale". A Short Sale or short pay as some like to call it is a situation where the lender or lenders agree to take less than what is owed to make the sale happen to the new buyer.

Short sales are a bit tricky as the lender or lenders have to agree to the discounted price to make it happen.Some lenders agree to the reduced amount and others do not.

The short sale usually takes many months and the negotiating with the bank can be stressful! That is the main reason to use a Realtor to negotiate the short sale and get the property closed before they sell it at the courthouse steps.

The lender has 3 months and 3 weeks to sell the property at the courthouse steps once they file the "Notice of Default" with the county recorder.

Many banks are getting on the bandwagon and understanding that it is in their best interest as well to do a short sale instead of foreclose on a property.

If you find yourself in the position of not being able to make another payment and currently live in your home contact us today to get your "Free evaluation" and to see if you are a candidate to get your home sold with a short sale and save your credit!

There is not exact time frame agreed upon but most say that your credit will be damaged but not wiped out doing the short sale instead of foreclosure.If you want to purchase a home again anytime soon it might be wise to do the shortsale instead of just let the home go back to the bank!