San Diego Short Sale
Deed in Lieu vs Short Sale
San Diego short sale expert Gary Kent 858-457-5368 explains why the process of a short sale is better than simply mailing the keys back to the bank and walking away from your San Diego home. Also known as “jingle mail” (you avoid a bank short sale by mailing the keys to the bank).
Some San Diego home owners have also asked about doing what is called a “deed in lieu” meaning a deed in lieu of foreclosure. So if you are considering a short sale vs. foreclosure this is an important video to watch. While Gary Kent is a short sale expert, he is not a Short Sale attorney. Only a San Diego short sale attorney can advise you if you should see if the bank will take a deed in lieu vs. foreclosure on your San Diego home.
Another option is to do a short sale vs. foreclosure or even vs. a deed in lieu on your San Diego home. Most banks do not want to own your house and will work with you on selling it so that they can avoid the cost of the foreclosure. Before you can do a “deed in lieu” on your San Diego home, the bank has to agree to it. The main reason this might not work is if there are junior liens or loans on your home that the bank does not want to inherit them.
For a deed in lieu to be valid, the bank has to agree to it. Bank short sales are often the better option. There are now many benefits to doing a bank short sale. To find out if you owe more than your home is worth, please go to www.ShortOrStaySanDiego.com .
San Diego short sale expert Gary Kent has written the book on short sales. Gary would like to offer the San Diego Short Sale Guide to you for free – Short Sale Guide.
To find out how much your San Diego home is worth compared to owe much you owe, go to www.ShortOrStaySanDiego.com
The Gary Kent Team of Keller Williams is a California Real Estate Broker, License 00862878. We are not licensed to provide legal or tax advice and we encourage our clients to seek legal and/or tax advice early in the short sale process.
by Gary Kent. Gary has successfully helped well over 200 clients and their families sell their homes or other real estate via a short sale. In 1991, he closed his first short sale for a young family, and since has been helping clients get out of stressful financial situations, escape from “under water” mortgages, avoid foreclosure (and the accompanying stigma), save their credit, and maintain their pride through a short sale. You can find Gary on Facebook, Twitter and Google+.
In some cases a bank might consider a deed in lieu if your home is eligible for a HAFA short sale, which may provide for a deed-in-lieu on your San Diego home.