fremont ca short sale approved

Jeff PereydaColdwell Banker Residential Brokerage

3340 Walnut Avenue STE 110 | Fremont CA 94538510 742-3212

www.MyColdwellBankerHome.com

If available, replace with actual property photo

Short Sale ConsiderationsShort Sale Considerations

Jeff PereydaJeff Pereyda

• Deciding to sell your home as a short sale can be stressful.• It is not, however, not destitute.

Broker AssociateColdwell Banker

It has been done successfully many times

People from all walks of life can be confronted with having to choose between a short sale and a foreclosure.


People from all walks of life, even the wealthy, can be confronted with having to choose between a short sale and a foreclosure.

Sellers of short sales can be forgiven from huge debt.


People from all walks of life, even the wealthy, can be confronted with having to choose between a short sale and a foreclosure.

Sellers of short sales can be forgiven from huge debt.

However, in a foreclosure, it has been seen that banks continue to pursue the borrowers with legal action, and garnish future wages in oder to satisfy their loss in a foreclosure.

Even rich people go through hardship

scenarios that will allow the bank to

approve a short sale.

Banks need to see hardshipBanks need to see hardship




Credit scores can and often do recover

sooner than you may think.





Credit scores can and often do recover

sooner than you may think.

Call me direct, and I can walk you

through the process, but let’s look at

hardship, and why it is important.


Legitimate hardship plays an important role in

the bank’s consideration for short sale

approval.

HardshipHardship

Examples of hardshipExamples of hardship

Death of one of several borowers

Illness

Marital issues

Loss of a job

Excessive expenses

ARM payment adjusting.

A letter must be created and signed by the borower that illustrates the

situation completely. It must give specific details—the more the better.

The hardship letter is of utmost importanceThe hardship letter is of utmost importance

• To the bank, numbers are more critical than

a sob story.

• Stick with the financial facts.

• Be very specific.

A letter must be created and signed by the borower that illustrates the

situation completely. It must give specific details—the more the better.

The hardship letter is of utmost importanceThe hardship letter is of utmost importance

• To the bank, numbers are more critical than

a sob story.

• Stick with the financial facts.

• Be very specific.

• Be ready to back it all up.

Be ready to back it upBe ready to back it up

The bank will pull your creditBe ready to show documentation of the hardship. Termination letter, pink slip, bank statements, tax returns, W-2s, Doctor’s letter, marital counselor determination, etc.



Your finances should show that there is no light at the end of the tunnel--EVEN THOUGH YOU ARE TRYING.



Your finances should show that there is no light at the end of the tunnel--EVEN THOUGH YOU ARE TRYING.

DO NOT blame the bank or complain in the letter regarding your feelings towards them.

Please call me. My direct line is 510 742-3212.Please call me. My direct line is 510 742-3212.

• Step 1: Determine that you do have a legitimate hardship• Step 2: Be ready to document all that explains the situation• Step 3: Be sure that you are not just trying to get out of a

loan that you can actually pay—you may end up with a short

sale, but after all that hard work, you could be stuck with a

deficiency judgement (debt) that you will have to agree to.

You are not aloneYou are not alone

Many many people are going through the

exact same thing you are:

• You are backed with 96,700 professional Sales Associates worldwide• 3,300 offices throughout the United States, Canada, Puerto Rico and the world

Your home will sellYour home will sell

Statistics have shown:

• There is a 95% chance of sale if a

home is priced at market value

• There is a 50% chance of sale if priced

at 5% over market value





Jeff PereydaJeff Pereyda

• Deciding to sell your home as a short sale can be stressful.• It is not, however, a destitute situation.• Call me direct at 510 742-3212 so we can talk.

Broker AssociateColdwell Banker

fremont ca short sale approved

Real Estate