Oceanside Short Sales
By Melissa Zavala, Broker, Escondido Real Estate, San Diego County
(Broadpoint Properties)
Oceanside short sales are becoming increasingly more common. Some sellers in Oceanside California owe more on their properties than their home is worth and need to sell right now. Many of those homeowners who need to sell their homes right now in Oceanside may need to do so because of a job loss, a decrease in pay, or an adjustment to their mortgage rate that they just cannot afford. Other reasons that sellers may need to participate in a short sale may include divorce or medical issues. An Oceanside short sale can take place when a seller has a qualified hardship and owes more to the bank than the property is worth. In this transaction, the bank will agree to accept an offer from a buyer and forgive the difference between the original loan amount and the new purchase price. Any borrowe...
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