San Diego, CA (PRWEB) January 13, 2009
Consumers can now save their credit and avoid foreclosure by selling their home using the "Short Sale" process. For the first time, HouseRebate.com is now offering its Short Sale plan to troubled homeowners. The homeowner can sell their home even if their loan amount is greater than the value of the home with no out of pocket costs. In a short sale, the lender is willing to accept a smaller payoff of the balance of the loan in order to sell the home at fair market value.
The best benefit of HouseRebate.com's new Short Sale program is that the lender generally pays all the commissions, listing fees and closing costs. The second benefit of selling your home in a short sale rather than going through the foreclosure process is a foreclosure affects your ability to purchase a home 4 to 5 years longer than a short sale. Based on the new Fannie Mae lending guidelines consumers may be able to qualify for a home loan in 2 years if they choose a short sale as opposed to 5 to 7 years if their home is foreclosed upon.
To qualify for a Short Sale, consumers generally need to be experiencing a financial hardship. These include the following situations: divorce, marital separation, military duty, medical bills, damage to property, illness, loss of Job, reduced Income, failed business, job relocation, death and incarceration.
For consumers that do not want to sell their home, a free loan modification kit is available. The kit contains a step-by-step process to assist consumers with the loan modification process which will increase their chances of getting a loan modification. Many lenders now have whole departments set up to handle consumer loan modification requests.
For more information on this Short Sale program and obtaining your free Home Loan Modification Kit, please call HouseRebate.com's free 24-hour recorded message 1-800-958-1952 or apply online.
HouseRebate.com is a full service real estate company. HouseRebate.com maintains a seasoned staff of agents who provide all the services that traditional real estate offices offer at discount pricing, offering reduced commissions on sales and 33% rebates of its commissions on purchases. HouseRebate.com has a virtual foreclosure tour bus that shows the current San Diego foreclosure properties available. HouseRebate.com is a member of the National Association of Realtors®. (888) 836-5675.
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