~SHANNON McGREGOR~

www.MustShortSale.com

The Right SHORT SALE Real Estate Agent

~Please call me directly should you ever want to discuss your current real estate situation. I service ALL real estate sale transactions. I work with buyers and sellers.~(951) 368-8601.

MARKET UPDATE: For now, SHORT SALES seem to be the going thing next to "REO's". "Regular" sales seem to not exist anymore!

****NEW "HAFA" Program ****

(Home Affordable Foreclosure Alternatives)

(click here for an informational brochure on the HAFA program from the NAR)

BUYERS:

Its a fact. Most of the homes on the market nowadays are SHORT SALES! Its can be a frustrating experience for most buyers looking to buy a home in any Southern California area. Buyers must be patient, and they'll get that home of their dreams. The government is trying to step in to make this a less grueling process for all involved; the lenders, agents, buyers, and the sellers.

What does this "HAFA" program mean for buyers? Well, in most cases it will help reduce the amount of "waiting time" after you have submited your offer and the seller accepts it. Your offer then goes to their lender, in hopes of it being accepted by them. There will hopefully no longer be this waiting peiod prior to their approval of 2-5 months. Maybe your waiting period will be reduced down to 2 weeks to 1.5  months at the most. After this approval is received by you in writing from the lender(s), you can then open escrow, and close your deal! Please call me direct should you have any further questions in regards to buying a short sale or any other home.

SELLERS:

You may earn up to $3,000 Relocation Incentive Now!

List your home as a short sale and you may qualify to get moving expenses from the new "Home Affordable Foreclosure Alternatives" program - borrowers can earn a $3,000 "relocation incentive".

Call me for more info, Shannon McGregor
Your Neighborhood Short Sale Specialist

 (951) 368-8601 

Sellers: Below are some frequently asked questions in regards to Short Sales~

What is a Short Sale or Short Pay off? It is a process of negotiating with the lender to agree to sell the property for less than what is owed by the borrower.

How do I know if I qualify for a Short Sale? Every lender has different requirements to accepting a short sale. Call me directly so I can establish whether you do or do not qualify. The reasons for a short sale can vary from financial issues, health issues, loss of a job, cut in pay, divorce, job transfer.

How do I pay the closing costs? You don't. The lender pays all closing costs. So you will have no out of pocket expenses!

Why Short Sale? 

• Avoid Foreclosure  
• No out of pocket expenses
• No tax consequences for primary residence
• Easier on credit than foreclosure
• Keep your dignity, peace of mind.

What documents are needed for Short Sale? Every lender has their own requirements. I will contact your lender for you so you dont have to deal with them! I will guide you through the entire process and be your rep! I will let you know what they will require from you. Some of the documents may include:

• Hardship Letter
• Last 2 years taxes
• Financial Statement
• Authorization to convey information
• Residential Listing Agreement
• Purchase Agreement
• Estimated HUD1

What is the typical short sale process? 

 - Agent lists the short sale.
- Seller delivers lender's required documents to the agent.
- Buyer submits an offer subject to lender approval.
- Seller signs the buyer's offer.
- Listing agent sends the seller's package, the accepted offer and a HUD to the short sale bank.
- Short sale approval letter is finally received by listing agent.
- Escrow now opens, and the rest is like a regular sale from this point.

How do I get started?

Give me a call, and I will come meet with you. It's that simple.

Call me direct for more info:

Shannon McGregor

Your #1 Neighborhood Short Sale Specialist

 (951) 368-8601  

CA Dept of Real Estate Lic# 01273279

** SOME HELPFUL INFORMATIVE LINKS**

Making Home Affordable Program Info

click here to Find out if YOUR LENDER participates in the HAFA program

HAFA Program Info Brochure from the NAR

NAR (National Association of Realtors) website

CAR (California Association of Realtors) website

Home Buyers Federal Tax Credit Update

U.S. Dept of Housing and Urban Development (HUD)

What is HUD?