Huntington Beach, CA – I have had two difficult conversations just this week with folks who were referred to me for short sale advice and help after attempting to short sale their homes with other realtors for several months.
The first case involved a couple who hired a company from a letter they received. This company assured them they were experts with short sales and told the homeowners they would take care of everything. After several months the homeowners were advised to put their home in a revocable trust with a representative of their real estate company as the executor. They said this was to protect their house from the bank. That’s when they called me and I advised them to hold off on signing anything and seek legal counsel. We also found out that low ball fake offers had been submitted to the lender with forged signatures. This so called “expert short sale company” was a total scam.
In the second case the homeowner has been utilizing inexperienced agents for over a year and getting a continued run around from thier lender. A complete short sale package was never submitted and the homeowner didn’t really know if a notice of default had been recieved, or if their was a sale date on the property (that’s when the home is put up for auctioned on the court house steps). At the time I was called, the lender had turned the file over to another company who now says they will make any decision on a short sale. The new company has different forms and everything is starting over. The homeowner is a retired individual who’s income dropped significantly about 2 yrs ago and he is very stressed and frustrated.
When a complete short sale package is submitted properly and followed up on effectively, we are getting our short sales approved and closed in as little as 75 days. The time frame can still vary depending on the lender, but it has certainly shortened up significantly from a year ago.
Thanks for taking the time to read this.
Tony Hunthausen is a Certified Distressed Property Expert with offices in Huntington Beach who also covers all of the surrounding communities. We have recently closed, or currently have listed/pending, short sales in Huntington Beach, Fountain Valley, Costa Mesa, Yorba Linda, and Santa Ana. Our help and consultation is free. We offer a no cost “FREE” short sale to qualified homeowners.