Avoid Foreclosures - Qualify for a Sacramento Short Sales

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Financial difficulties have indeed affected a lot of families and their mortgages, especially in the Sacramento area. Wanting a loan modification from the lender is the most appropriate when a financial crises take place. But in some cases, a modified loan may not actually solve the financial strain, so qualifying for a Sacramento Short Sale can be the best.

For more information please visit us at http://www.DavidYaffeeTV.com

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Avoid Foreclosures - Qualify for a Sacramento Short Sales

  1. 1. Avoid Foreclosures Qualify for a Sacramento Short Sales<br />©www.DavidYaffeeTV.com<br />
  2. 2. Avoid Foreclosures Qualify for a Sacramento Short Sales<br />Financial difficulties have indeed affected a lot of families and their mortgages, especially in the Sacramento area. <br />Wanting a loan modification from the lender is the most appropriate when a financial crises take place. But in some cases, a modified loan may not actually solve the financial strain, so qualifying for a Sacramento Short Sale can be the best. <br />If you are unfamiliar with this method, I will tell you the requirements and qualifications that you need to posses in order to qualify.<br />©www.DavidYaffeeTV.com<br />
  3. 3. Avoid Foreclosures Qualify for a Sacramento Short Sales<br />Market Value of the Property has Dropped<br />You must authenticate that your property is already worth less than the outstanding mortgage balance that is due to the lender. This balance may include the penalties and some other fess. To qualify for this process, you must have your home appraised and calculate your total mortgage balance. <br />For instance, your home was appraised to worth $50,000 and you have a total mortgage balance of $60, 000, it means that you already met the first requirements for this method.<br />©www.DavidYaffeeTV.com<br />
  4. 4. Avoid Foreclosures Qualify for a Sacramento Short Sales<br />You Have a Notice of Default<br />Secondly, you need to have a Notice of Default in order to avail Sacramento Short Sales. <br />This means that you have received this kind of notice that is formally informing you that you have missed mortgage payments already. <br />Some lenders would not consider this if your property is not in mortgage default.<br />©www.DavidYaffeeTV.com<br />
  5. 5. Avoid Foreclosures Qualify for a Sacramento Short Sales<br />Financial Difficulties<br />The seller must write a letter of hardship explaining why you can't any longer pay the mortgage due and you want to avail of this method of avoiding foreclosures. <br />Clearly state your reasons why you are qualified for this. You have to prove that you have no longer the capabilities to pay for the mortgages. There are some valid reasons that can be acceptable. These include unemployment, pregnancy, divorce, a sudden ailment or death.<br />©www.DavidYaffeeTV.com<br />
  6. 6. Avoid Foreclosures Qualify for a Sacramento Short Sales<br />You Don't Have any Assets<br />The last one, you should have no assets to pay the lender the difference. If you have enough cash savings in bank, or you own other real estate or stocks, the lender might probably think that you have assets and might disqualify you. <br />They would think that you have the ability to pay your dues. They might also ask for your income tax return or financial statement to prove that you are qualified for this.<br />©www.DavidYaffeeTV.com<br />
  7. 7. Avoid Foreclosures Qualify for a Sacramento Short Sales<br />If all these requirements are met, your lender will have to agree on a short sale. <br />To help you understand more about this process, contact your most trusted Realtor and seek for help. <br />©www.DavidYaffeeTV.com<br />
  8. 8. Avoid Foreclosures Qualify for a Sacramento Short Sales<br />David Yaffee is one of most trusted Sacramento Realtor and is an expert when it comes to Sacramento Short Sales. <br />Learn more about Sacramento Short Sales by checking his site at http://www.davidyaffeetv.com<br />Visit us now!<br />©www.DavidYaffeeTV.com<br />
  9. 9. Avoid Foreclosures Qualify for a Sacramento Short Sales<br />Brought To You By<br />©www.DavidYaffeeTV.com<br />

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