Short sell your home to avoid foreclosure

by Gary and Lisa Schoeffler on April 2, 2012

in Latest News

We are experts at doing short sales.  If you know someone who would like to explore their options, call us and schedule an appointment ASAP!

A short sale can salvage your credit and help you avoid bankruptcy. For homeowners who are left with few remaining financial options, it may be worth a try.

In real estate, a short sale occurs when homeowners in financial distress sell their property for less than what is due on the mortgage. The buyer is a third party, not the bank, and all proceeds from the sale go to the lender. The lender forgives the difference or gets a deficiency judgment against the borrowers. This requires the borrowers to pay the lender all or part of the difference between the sale price and the original value of the mortgage. In some states, this difference must be forgiven, by law.

Lisa Schoeffler, CRS, ASP
Prudential California Realty
A member of HomeServices of America, Inc.
a Berkshire Hathaway affiliate

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Post by Gary and Lisa Schoeffler

Gary and Lisa Schoeffler are Ventura Real Estate Professionals specializing in residential real estate. Their expertise in helping both buyers and sellers is widely recognized in Ventura County. How can they assist you today? Wondering what the market is like? Call them, they will be happy to talk with you about it. 805-320-4472

Gary and Lisa has written 372 articles.

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