Many homeowners are unclear regarding the foreclosure process in California. Here is the non-judicial foreclosure process in California at present time:
The following time-line applies to non-judicial California Foreclosures under a Deed of Trust. (non-judicial foreclosure is used far more commonly in California than a Judicial Foreclosure and California is a “one-action” state)
Your bank will demand a great deal of documentation before approving a short sale. Contrary to popular belief, though, a seller does not need to be in foreclosure or have fallen behind on their mortgage payments for a short sale to be successful. Here are some common reasons that banks turn down short sale requests:
You can get cash back from the short sale of your home. The Home Affordable Foreclosure Alternatives guidelines have been added to the Making Home Affordable program. Short sale incentives for homeowner’s that include cash back and formal time frames to list and sell your home have been added. It is crucial that you select a real estate agency that has familiarity with this program and a track record of success in obtaining successful resolutions for clients. Many real estate agents are either unaware of this program, unfamiliar with the methods to obtain it, or ignore it because it provides no direct incentive to them. SS AGENTS Group is committed to obtaining the best possible resolution for all of our clients and will secure this assistance for those who are eligible.
Read More: Home Affordable Foreclosure Alternatives Program (HAFA)