Short Sale and Buy Program


YES WE CAN offer you the ability to Short Sale your existing upside down home, and then simultaneously buy a similar home at today's super low values. The Short Sales Company and Realty Executive Cares has teamed up with one of San Diego's leading mortgage lenders to offer southern California homeowners this exciting Short Sale and Buy program, utilizing the Federal Housing Authority (FHA) 4155 loan program.

According to 1st American Core Logic, in San Diego County there are over 650,000 homeowners who have negative equity (upside down) in their home, and in San Diego County, the estimates are 300,000 property owners have no equity. For homeowners who are upside down, the are several options to choose from as follows:

  1. Do Nothing: Keep Paying current mortgage for the next 8 to 12 years until break even.
  2. Loan Modification: Maybe lower payments, but with the same high mortgage loan balance. Reposts show that only 25% of Loan Mod applications are granted.
  3. Foreclosure: Stop making payments, eviction from home, ruined credit and loan worthiness, and become a renter for the next 5 to 7 years.
  4. Short Sale and Buy Plan: Short Sale existing home and thus eliminate all negative debt, and then simultaneously buy a similar replacement home at today's low property values.

Below is a list of some of the more common qualifying Guidelines for the Short Sale and Buy plan utilizing the FHA 4155 loan program (terms and conditions are subject to change):

Guidelines For a Short Sale and Buy Program

Get a Nicer Home, for Less Money, and Not Have to
Move into a Rental or Apartment!

  • Purchase Loan Limits are $729,750 for San Diego County.
  • Down Payment as low as 3.5% of the new Purchase Price, and Gifts are OK.
  • No Income Limits.
  • Competitive FHA lending interest rates.
  • Purchase price of replacement home must be less then original Loan Balance(s) of house being Short Sold.


Foreclosure VS. Short Sale and Buy

Get a Nicer Home, for Less Money, and Not Have to
Move into a Rental or Apartment!

San Diego Short Sales V. Foreclosure

Short Sale and Buy Questions and Answers.

What is a Short Sale? Simply put, a Short Sale occurs when a homes market value is less then the outstanding mortgage debt plus sales costs (sometimes called an upside down Mortgage. In order for a Short Sale to actually close, the mortgage bank(s) must agree to write-off a portion of the outstanding loan debt.

How does a Typical Short Sale and Buy transaction Work? For example, let's look at a typical home that has $500,000 in mortgage debt, but is now worth only $375,000 in today's market. We market and sell this home for $365,000, and we also negotiate with the Bank(s) to reduce their loan balances to a value a little less than that, in order to pay closing costs, back taxes and other costs. This is called a Short Sale. Simultaneously, the property Seller works with the Mortgage Lender to qualify for the Short Sale and Buy Program. Once approved, we help the property owner find and purchase a similar replacement home at today's bargain values. The replacement property must be priced less then the $500,000 that is currently owned on this example short sale property. Once everything is approved and processed, we close escrow on the short sale home, and simultaneously close on the replacement home the very next day. The past mortgage debts are eliminated and now your are living in a home that you own with positive equity.


Short sale and buy chula vista san diego


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