Short Sales

Do You Owe More Than Your Home Is Worth?

Are You Facing the Loss of Your Home?

Are You Behind In Your Payments?


SHORT SALE OPTION FOR THE FINANCIALLY DISTRESSED SELLER  . . .


WVSS Martin

It May Be Time To Consider A Short Sale

I know it’s not just a house! It’s your home, your community . . . your life . . . your fight. But, you’re not alone. It’s probably little consolation right now, but there are millions of hard working Americans in the midst of your same fight and just that many more heading into battle. You will get thru this . . . And we’d like to be there standing shoulder to shoulder to help you thru.

We specialize in marketing properties and finding Buyers for our Short Sale Listings in Rancho Cucamonga, Fontana and the surrounding foothill communities.  Tri County Residential Group has the expertise, proven track record, and resources to communicate with your lender.  We understand Short Sale guidelines and have successfully worked with lenders big and small to complete many Rancho Cucamonga Short Sale transactions.  We have outstanding relationships with several banks including:  

Bank of America | Chase  | Wells Fargo | CitiMortgage | and more…

Rancho Cucamonga Short Sales for Buyers:

Purchasing a Short Sale can represent a good opportunity to buy a home that is under market value, but it requires a great deal of patience and an experienced Realtor to guide you through the process.  

There are also drawbacks to buying Short Sale properties:

  • Buying a Short Sale can take anywhere from 2-6 months – even longer if the Listing Agent does not understand the complexities of a Short Sale.
  •  Even if a Seller accepts your Short Sale offer, the final decision rests with the Lender
  • Some Short Sales are still listed at market price, and lenders may be unwilling to negotiate a much lower offer
  • If you don’t keep looking at what else is available, you may miss out on a good deal elsewhere while waiting for the Short Sale to be approved
  • The seller may have a 2nd Mortgage and the lender on the 1st may approve the Short Sale, and not allow enough to satisfy a payoff solution for the 2nd.
  • There is no guarantee the lender will approve the Short Sale at all.

Rancho Cucamonga Short Sales for Sellers:

A Short Sale can be an answer to a distressed Rancho Cucamonga Seller’s prayer. For a home owner that applies for a Short Sale and is approved by the lien holder, there are some great benefits:

  • The lender forgives the Seller the sum of the difference between the amount owed and the Short Sales price. For example, if a Seller owes $500,000 on the original mortgage and the Short Sale is approved at $400,000, then the Seller would be forgiven the $100,000 difference.
  • With a Short Sale the Seller’s credit is only adversely affected for 24 months rather than 60 months with a foreclosure.
  • The CA state legislature approved a bill that would exclude homeowners who do a real estate Short Sale from having to pay taxes on the debt forgiveness, aligning state law with the federal Mortgage Tax Debt Forgiveness Act.

Short Sale Documentation Requirement:

Although all lender requirements vary, all lenders require the home owner to submit certain documentation. The following items will give you a general idea of what you will have to provide for a successful Short Sale approval.

  • Letter of Authorization – Lenders will not discuss your personal information without your express authorization to do so.  The Letter of Authorization should include the date, the address of the property, reference the loan number, your contact information, your SSN, your Realtors name, company and contact information.   
  • Hardship Letter –
  • Proof of Income and Assets – You will need to provide copies of your Bank Statements, most recent Paystubs, current signed Tax Returns and information on any additional real estate you own to our lender;  Your lender will require full disclosure of your financial situation in order to determine if your debt is worthy of foregiveness and will often require a Borrower’s Financial Statement to be completed.
  • Copy of a Signed Listing Agreement
  • Your Broker’s Price Opinion
  • Fully Negotiated Purchase Agreement
  • Estimated HUD-1 Settlement Statement

We Have Short Sale Experience:

When a medical emergency arises, you consult a specialist.  When you face a legal issue, you turn to a trusted professional with the experience and skill to handle your needs.  Similarly, in this current economic crisis, why would you attempt a Short Sale without an experienced Short Sale specialist?

The prospect of foreclosure can be frustrating and challenging, finding a qualified real estate professional should not have to be.  You need a Rancho Cucamonga Realtor with exceptional Short Sale experience, comprehensive training, market experience and a specific understanding of the complex issues that confront today’s homeowner in distress.  You need a real estate professional that is able to provide real solutions for the real issues in today’s market.

Here at the Tri County Residential Group, we have taken the time to become certified to address your specific needs.  Join the hundreds of satisfied Short Sale Sellers that have put the strength of our 16 year proven track record of experience and knowledge to work for them.  We only get paid when we find a Buyer and successfully negotiate the approval and close of your Short Sale.

As real estate agents, we are not licensed as Attorneys or CPAs and cannot advise on the legal or tax ramifications of a Short Sale, but we can certainly refer you to a well-qualified Attorney or CPA who can. 

When you are ready to discuss the SHORT SALE OPTION . . . Give us a call:  (909) 476-9600.