Short Sales

There are two types of Realtors today. Those who understand the emotional and financial complexities of a short sale…and those who don’t.

At the Acosta Group we have a team of professionals working on your behalf to mitigate your potential losses and make your next move as simple as possible. There are too many agents, especially here in the San Fernando Valley, that make it sound like anybody can do a short sale with very minimal credit consequences, the bank will give you a full release of your debt, and you can happily move on and buy your next home in two years. The bottom line is these agents make it sound like this to attract your business. This is NOT a one size fits all solution. Every person’s situation has to be assessed by a professional during a consultation. Please read the information on this page to get a better understanding of Short Sales and call the Acosta Group for a FREE, No obligation 1 hour phone consultation to determine what solution is best for you, and what your likely outcome will be.

Thumbnail image for Sherman Oaks Short Sales Can Yield Profit…or a New Home!

Sherman Oaks Short Sales Can Yield Profit…or a New Home!

by Mario Acosta September 3, 2013 First-Time Home Buyers

Profitable Shortsales?

According to this year’s data provided by RealtyTrac, the best short sale deals can save home buyers as much as 33 – 57%. For a short sale in Sherman Oaks to result in anything like that kind of result in today’s improving market, buyers need to get active!

•    Research
While short sales indicate sellers under …

Read the full article →
Thumbnail image for Great News

Great News

by Mario Acosta April 21, 2013 Local Topics

We have talked extensively about buying, selling, being a landlord, moving – so many things we realtors get involved in on an ongoing basis.  We have even touched on things to do to fix your home up, whether  selling or staying put.    But this month there is great news for those of you out there …

Read the full article →
Thumbnail image for Hang on it’s getting exciting!

Hang on it’s getting exciting!

by Mario Acosta March 18, 2013 Buyers

 

The real estate market can feel a lot like a roller coaster these days.  Sometimes its going full speed others – like now – you feel like you are stuck at the top and its not moving and you can’t decide if that’s a good or bad thing.

Over the past year the real estate marketplace …

Read the full article →

Are Short Sales For You?

by Mario Acosta March 11, 2013 Buyers

If you are a first time home buyer, today’s market may be all you know, and so may not seem as strange to you as to someone who has bought a home a decade ago. That is because more than half the homes (ok a lot more than half) are Short Sales. The world for …

Read the full article →
Thumbnail image for Short-Sale A Second Mortgage – Sherman Oaks Real Estate

Short-Sale A Second Mortgage – Sherman Oaks Real Estate

by Mario Acosta August 3, 2011 Local Topics

How Does a 2nd Mortgage Affect My Short Sale?

Yes, you can still do a short sale if you have a 2nd mortgage such as a Home Equity Line of Credit (HELOC) on your Sherman Oaks real estate, however it can be more difficult depending on your specific lender.  It is important to understand that HELOC …

Read the full article →
Thumbnail image for Can A Lender Pursue You After A Short Sale – Sherman Oaks Real Estate

Can A Lender Pursue You After A Short Sale – Sherman Oaks Real Estate

by Mario Acosta July 6, 2011 Sellers

Your Lender May Have Recourse

Sherman Oaks homeowners need to be aware of the different types of mortgage loans and their impact in a short-sale.

There are two types of loans in California, “recourse” and “non-recourse.”  A non-recourse loan is a loan obtained to make the initial purchase of a home, also called a “purchase money loan.”  …

Read the full article →
Thumbnail image for What Are The Benefits To Doing A Short-Sale – Sherman Oaks Real Estate

What Are The Benefits To Doing A Short-Sale – Sherman Oaks Real Estate

by Mario Acosta June 17, 2011 Sellers

Considering a Short-Sale for your Sherman Oaks home? There are two parts and scenarios that need to be considered.
Credit Bureau Reporting

Let’s start with how a short sale will be reported to the credit bureaus. In cases of both  short sale and foreclosure, any delinquent mortgage will negatively affect credit ratings.  But short sellers will have …

Read the full article →
Thumbnail image for Paying Taxes In A Short Sale – Sherman Oaks Homes

Paying Taxes In A Short Sale – Sherman Oaks Homes

by Mario Acosta June 11, 2011 Sellers

Seek Professional Advice

Every situation is different for each individual, so it’s important for Sherman Oaks homeowners to consult with a tax professional, CPA, tax attorney or someone who is qualified to make this determination for you.  But here is some information to get you started, after which you should confer with a CPA to see …

Read the full article →
Thumbnail image for Questions Regarding Short Sales? – Sherman Oaks Homes

Questions Regarding Short Sales? – Sherman Oaks Homes

by Mario Acosta May 19, 2011 Local Topics

Some Frequently Asked Questions:

What are the advantages of a Sherman Oaks short sale?
A short sale can minimize the damaging impact to your credit and can minimize your financial exposure and liability. A foreclosure can remain on your credit for up to seven years while a short sale usually gets reported as a “settled debt” and …

Read the full article →
Thumbnail image for Considering Walking Away From Your Home – Sherman Oaks Real Estate

Considering Walking Away From Your Home – Sherman Oaks Real Estate

by Mario Acosta June 30, 2010 Local Topics

Fannie Mae has decided to punish homeowners who walk away from their homes before trying loan modification or short sale.

Homeowners facing default should avoid Foreclosure as their first option.  A Short Sale is a much better solution.

Go To Article

Read the full article →