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A Fourth Common Hollister Short Sale Myth: There Can Be No Liens on the Property

Hollister CA – This is the fourth inaccuracy I've seen in an article about short sales. I read this article online and noted 7-8 big inaccuracies.

You can't get solid and accurate information on short sales unless you talk to an agent who has sold a few short sales.

Click here to discover how other sellers successfully executed a short sale and avoided foreclosure.

We have been involved in hundreds of short sale transactions, so we know a little bit about what we're doing. But that doesn't mean we know everything; this industry is constantly changing every day.

Anyway, this article said that a lender will not consider a short sale if there are any liens on the property. I know this is not true, because I have sold several short sales with liens on them.

We do short sales with two mortgages all the time. A second mortgage is simply a lien. The key is that the lien holder has to agree to accept what the first mortgage is willing to pay.

We've even sold short sales that had two liens. The first lender received $120K, the second mortgage received $3K, and the third-position "lien" received another $3K.

So much for the assumption that there can be no liens. I think what the author is stating is that a short sale can't be successful if you have a $50K lien that won't settle for less than $50K.

The second mortgage holder was owed around $65K. However, it agreed to accept $3K, knowing that if the property is foreclosed on, it would get zero; $3K is better than nothing.

This is one of many short sales we've sold that have had liens and second mortgages on them. Don't let inaccurate information stop you from short selling your home.

Thinking about a short sale? I can help you short sale your property so you can move on with your life. Send me an e-mail at israel@ighomes.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (831) 636-8858.

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification?Our Hollister loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail to israel@ighomes.com to request a Free Copy.

Or, click here to request a copy.

Thanks for reading this.~Israel Gonzalez.

Israel is a Real Estate Agent at Beale Properties.

Phone: (831) 636-8858. israel@ighomes.com.

View My homes for sale at www.bestREOhomes.com.

Israel Gonzalez specializes in loan modification assistance and short sales in Hollister California. Hollister Loan Modification Help, Hollister Short Sales. Hollister Short Sale Realtor Hollister CA Short Sales. Hollister Realtor.

Important Notice

Israel Gonzalez, Beale Properties, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Gonzalez's personal views and do not reflect the views of Beale Properties.

This information on "A Fourth Common Hollister Short Sale Myth: There Can Be No Liens on the Property" is provided as a courtesy to our readers to help them make informed decisions.

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