Efrain Bobadilla Kern County Real Estate
Oppening Doors With Keys Of Integrity    


1-.It's FREE!! Let us do all the work at no cost to you. The bank will pay for our services, even though they are losing money. As your agents, we have professional negotiators so you don't have to hassle with the bank.

2. Save your credit - Yes, a short sale can affect your credit but it can be less threatening than a foreclosure and there is a good possibility that your negotiator can get the bank to agree to report it positively to the credit bureaus.

3. Save your integrity - A foreclosure can be mentally devastating. It can haunt you for 7-10 years on your credit, in conversation, when applying for a loan, etc. A short sale is just that - A sale of the property! No need to explain to your friends or family why you couldn't afford the house. Instead you made a sound business decision and got out from under a property that just wasn't worth it anymore.

4. Future employment opportunities - There is no space that I've ever seen on an employment application asking if you've ever done a short sale. But if the subject of foreclosure ever comes up you might want to get another resume sent out soon...

5. Buy another home in 24 months - If you do a short sale and then keep all your bills & payments current you can buy another property in just 24 short months! Fannie Mae's newest guidelines state that as long as you can prove you can stay current they will back another loan for you in 2 years. If you get foreclosed on you are going to have to wait 5 years.

6. Better interest rates in the future - There usually is not a question on loan applications that reads "Did you ever do a short sale?" but I've certainly seen the one that asks "Have you ever had a house foreclosed on?" I'm willing to bet that those that circle the "YES" for foreclosure end up with some pretty ugly loan rates if they get approved at all.

7. Tax advantages - Are you familiar with the Mortgage Debt Relief Act of 2007 & the Economic Stabilization Act of 2008? They basically state that if you short sell your primary residence between 2007 & 2012 then you may not be responsible to pay any taxes on the amount forgiven!!

8. Peace of Mind - It is much easier to sleep at night knowing that you did everything you could to save your house and in the end you got it sold to a new buyer, the bank got to limit it's losses, and you are on your way to a new beginning. Sounds like good piece of mind to me!

email us today for a free consultation: Efrain@RealtorEfrain.com

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