Short Sale Myth #1

 With all of the Costa Mesa short sales on the real estate market, there are a lot of rumors swirling around about them. As the saying goes, "rumors, rumors are no fun." That's why we're here to debunk some of the false "information" that is out there. 

Myth #1:

 The homeowner must fall behind on mortgage payments in order to qualify for a short sale. 

Fact:

 To qualify for a short sale, a financial hardship must exist. For instance: -Adjustable Rate Mortgage (ARM) goes up increasing monthly payments-Loss of job or income-Health or medical issues-Divorce or added family members to care for

You do not have to be late to get the bank's attention!

 These are just some scenarios and there are many other possibilities. We have negotiated dozens of short sales successfully for years... Even before they were called "short sales." There are many scams out there... Please beware. There should be no UP FRONT FEES, ever. Those that promise you the moon usually deliver just air. If you are considering doing a short sale or would like to find out more about how a short sale works, please check our short sale information page or contact us:shortsales@torellirealty.com714-540-7355