Short Sales are becoming more common than 'traditional' sales and many people do not know what they are. We get so many questions about short sales and the short sale process, we decided to create a site that will help provide information to those in need of some answers.
There is a great deal of information on the Internet, but it can be very confusing when one piece of information contradicts another. We are going to cover the short sale basics here on our site and remind everyone that a short sale may have credit or legal consequences and may result in taxable income to the seller.
If you are "under water" and want to find out if a short sale is an option you'd like to look into, please feel free to browse through our website or CONTACT US and we will be happy to help answer your questions.
| What Is A Short Sale? |
 A short sale is when a bank is willing to sell for less than what is owed. The seller's lender, or lenders, agree to accept less than the mortgage amount owed by the current homeowner. In some cases, the difference is forgiven by the lender , and in others the homeowner must make arrangements with the lender to settle the remainder of the debt. Click the question mark button on the left to READ MORE . |
| What Is HAFA? |
 In February 2009, the Obama Administration introduced a Plan to address some of the key problems of the housing crisis to get our economy back on track. One critical element of that effort is the Making Home Affordable Program , a plan to stabilize the housing market and help struggling homeowners get relief and avoid foreclosure. The Making Home Affordable Fact Sheet can answer many of your questions. Click the Certified HAFA Specialist button on the left to read MUCH MORE. |
| Selling "Short" |
 NELSON PROPERTIES will help provide you with an understanding of the options and alternatives to a short sale. The first thing you need to know is how to go about keeping your property . Once you are informed about these alternatives and consequences , you will have a much better idea about the decisions you will make going forward! Click the Foreclosure ~ Next Exit button on the left for information you NEED TO HAVE. |
| Tax Consequences |
 This legal article (provided by the California Association of REALTORS®) discusses the income tax consequences to the borrower in the event of foreclosure.......and if the borrower sells the property to another in a short sale in which a lender accepts less than the balance due on the loan as payment in full. This article has been updated to reflect the recent California Mortgage Debt Forgiveness Tax law signed by the governor on April 12, 2010. Click the Tax button on the left for DETAILS. |
| Government Programs |
 Given the real estate climate these past few years, there are some programs out there designed to help today's homewners. Interested in the Home Affordable Program? Want to know more about HAFA? What type of FHA Loan programs work for you? CalHFA announced full implementation of it's newest four programs ~ KEEP YOUR HOME CALIFORNIA ~ on February 16, 2011. Click on Uncle Sam at the left to find out DETAILS on the different programs available. |
| Short Sale News |
 This page includes different links relating to short sales, short sale laws, short sale news and opinions from many sources. Click the Newspapers button on the left to go directly to the NEWS. |
| SFR & HAFA Certified |
 Both Daphne Nelson & Nicole Nelson are licensed REALTORS® and Certified in Short Sales and Foreclosures. We are committed to providing quality service with a personal touch and we pride ourselves on continuing to exceed our clients' expectations. Please click the SFR Certification logo on the left to read more about our area of SPECIALIZATION. |
| Contact Nelson Properties |
 Nelson Properties is a family-owned Brokerage, purposely small, so that we can focus on every one of our clients with the energy and attention to detail that buying or selling your home demands. We do NOT farm out the short sale negotiations to a 3rd party. We take care of our clients personally! CONTACT US to talk about the short sale process and how we can help! |