Hoffman Realty Group Inc.
Call Us at (916) 983-7653

Folsom's #1 Agent in total sales since 1988! SMART, INNOVATIVE real estate marketing that sells your home in less time and for a higher average selling price than methods used by traditional real estate agents. Are you ready?

 

Short Sale Help


If you are concerned your home may go into foreclosure and you have not qualified for alternatives that would enable you to stay in your home, a Short Sale is an option you may want to consider.

The purpose of a short sale is to help you avoid foreclosure if you are no longer able to remain in your home. In the short sale process, you sell your home and settle your mortgage debt for less than the amount that you owe.

You may be eligible to sell your home in a short sale, if:

  • You have a hardship, such as a job loss, pay cut, divorce or medical emergency
  • You owe more than your house is worth
  • You’re unable to afford your current monthly mortgage payment
  • You’re unable to modify or refinance your current home loan

In 2007 the federal government passed HR 3648 which prohibits a first lien holder from recapturing any debt they forgive in a short sale, even if you are already in the foreclosure process.  In July of 2011, California passed a similar law that now prohibits junior lien holders from recapturing any forgiven debt.  Both laws now make it possible for home owners to Short Sale their homes without worry of having to pay back any monies to their lenders after their Short Sale closes.

Over the years we have helped many distressed home owners short sale their homes. You can read their stories of how we helped them avoid costly foreclosure, preserve their credit rating, settle their mortgage debt without having to pay a penny to the bank or the real estate agents. If you are struggling to make your mortgage payments there is help for you here.  Contact us today and we will help you understand every choice and option available to you to help you make the best decision regarding your current housing situation.