Short Sale Myths and Facts Part 1 – Helping Fresno Homeowners.

As real estate values have dropped over the last couple of years, drastically in some places, thousands of home owners have found themselves either upside down on their mortgage, unable to afford their payments, or both.

The topic of short sales and foreclosures seem to dominate the headlines everywhere. There has been a lot written about short sales and whether you should or shouldn’t short sale your home if you’re in this situation. This has led to many misconceptions about short selling your home.

This series is about the myths regarding short sales. Caveat: The rules regarding short sales are different for every lender and are changing all the time as the market changes. ALWAYS consult a real estate attorney and a CPA regarding the particulars of short selling.

Short sale Myth #1:

You need to be behind in your payments before the lender with consider a short sale.

Fact:

This may have been true in the past, but today the key phrase is hardship. Certainly being behind in payments is the most common type of hardship. But hardship could also be caused by job loss, death in the family, divorce, adjustable rate mortgage hike, loss of property value (especially in places like California).

If you are considering a short sale please feel free to contact me with any questions. I am focused on short sales and helping homeowners through the process in the Fresno Area. have also co-authored the book “Should I Short Sale My Home?”.

Watch for the next article in the Short Sale Myths series. Or, just subscribe to the blog and they will be sent automatically.

If you are interested in buying or selling a home in the Fresno area visit my website. For frequently updated information on foreclosures, short sales, real estate news and market conditions visit my blog. There are many free reports as well as free access to MLS listed properties. You can also call 559-790-8760.

Jeremy Smiley is a licensed Realtor®, certified short sale specialist and Realtor for London Properties. Jeremy has co-authored the book “Should I Short Sale My Home?”. Get your FREE copy now.

Tagged as: buying a home in fresno, Buying distressed homes, First time home buyer tax credit, Foreclosure realtor real estate agent, fresno beach short sales, fresno foreclosures, fresno loan modification, fresno real estate market, fresno real estate market value, fresno short sale, fresno short sales, GMAC short sale, Real estate in fresno, short sale a home, short sale alternatives, Short Sale Homes in fresno, short sale realtor, short sale taxes, short sale tips

Short Sale Myths and Facts Part 1 – Helping Fresno Homeowners.

Contact me