Homeland (Homeland, CA)
By Todd & Devona Garrigus, Broker / REALTORS®
(Garrigus Real Estate)
What Is A Homeland Short Sale, And Why Would A Bank Consider It? Simply stated, a Homeland short sale occurs when the bank accepts an offer on your home that is less than what is owed on the mortgage. For example, let’s say you owe $300,000 on your home in Homeland, and the market value is $150,000. Our Homeland short sale agent team lists the property for sale, and receives an offer of $150,000. Basically, we are “shorting” the bank $150,000. In doing so, your lender will “forgive” the debt and allow you to move on with your life. Banks accept Homeland short sales because they are better for their bottom line, when compared to foreclosure. A typical foreclosure will cost the bank anywhere from $15,000-$50,000 in legal fees, maintenance costs, utilities, etc. A Homeland short sale not o...
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Homeland, CA Real Estate Professionals