If you need help with a short sale in Thousand Oaks California, this page should contain pertinent information that you are looking for. We would like to stress that all lenders are different, so some of this information may or may not apply to your particular lender. If you would like Thousand Oaks short sale assistance, feel free to reach out to us by filling out one of the forms on this page, by email at Info@DreamHomePS.com, or by calling 805-250-8335.
Short Sale Assistance in Thousand Oaks
If you’re thinking of selling your Thousand Oaks home, but the amount that you owe on your mortgage is greater than what your house can sell for, you may be looking at a short sale. A short sale is when the amount of money you receive from selling your house, and any other money that you have available to you, is not enough to cover your bank loan and any closing costs associated with the sale. This is not to be confused with a foreclosure, which is the process that a lender uses to take your home when the mortgage is not being paid. If you are thinking that you might need to short sale your Thousand Oaks home, here are a few pointers that might help you along the way:
Contact Your Bank/Lender
One of the first steps that you should always do is contact your bank or lender and talk to them about your situation. They may have programs available to help homeowners in your situation. They may also agree to a loan modification to reduce your interest rate, develop some sort of payment plan, or even provide a forbearance period. If none of these options are available from your lender, you may have to proceed with a short sale.
Lenders normally need a certain amount of information to discuss options and/or the short sale process. We recommend having the following available when you contact your lender:
- Your loan account number
- Documentation about your recent income (pay stubs, disability unemployment, public assistance, etc.)
- A list of household expenses
- Income tax returns for the past two years
- A hardship letter detailing your financial situation and why you need the short sale
Work With a Thousand Oaks Real Estate Agent
Once you decide to proceed with a short sale, you want to find a Thousand Oaks realtor who is familiar with the short sale process. As of the writing of this page, housing prices are near or above all-time highs in some locations in Ventura County, so it may be a little harder to find realtors with short sale experience than it was after the housing market crash. Short sales can be a slow and complicated process, so you want someone who understands it and can walk you through the process and answer any questions you might have. Here are just a few services that your realtor should provide to you:
– Work with your lender as needed to facilitate the short sale
– Help you with the short sale package needed by your lender
– Determine a reasonable listing price to get your house sold for the most amount of money as quickly as possible
– List your home in the MLS
– Negotiate with potential homebuyers
– Complete the short sale process from beginning to end
Prepare For a Lengthy Process
As discussed above, the short sale process is not quick and easy. Not only does your lender have to review your short sale package, you then have to put your house on the market, receive and accept an offer, and then get bank approval for the offer. Depending on the real estate conditions in Thousand Oaks, this whole process can take months and months.
Short Sale Assistance in Thousand Oaks California
At Dream Home Property Solutions, LLC, we have helped Ventura County residents with short sales and navigating the foreclosure process. Co-owner Ainslee Charles (CA DRE # 01969612) is a licensed realtor and can help you facilitate your Thousand Oaks short sale. She will help you through the short sale process and with bank negotiations. Maybe most importantly, she will take the time to make sure that you understand every step of the process to make you feel as comfortable as possible. She is committed to serving all of your real estate needs with the highest level of professionalism.
If you would like to speak to us regarding short sale assistance in Thousand Oaks California, or anywhere in Ventura County, call us today at 805-250-8335 for a FREE, no-obligation consultation. Or if you prefer, you can also fill out one of the forms on this page or send us an email to Info@DreamHomePS.com.