If you are financially distressed, it might be time to cut your losses and minimize the damage to your financial future. If you’re feeling the economic pressure of an impending foreclosure, then consider putting your Santa Cruz real estate up for a short sale.
While it might seem like short sales should be a speedy process, they’ve been known to play havoc with many unsuspecting sellers. In honor of April Fool’s Day, we’ve created a list of the many short sale pitfalls sellers encounter.
• Settle your accounts – Strive to pay off all your other debt. Your bank might not approve your short sale application if you have judgments from other creditors pending.
• Pay your HOAs – Even if you’re defaulting on your mortgage, it’s important to meet your