Short Sales Explained

A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Recent changes in corporate policy and the Obama administration have also improved the chances of getting a short sale approved.

But to be technical, here's a more official definition:

A homeowner is 'short' when the amount owed on his/her property is higher than current market value.
A short sale occurs when a negotiation is entered into with the homeowner's mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer closes on the property, and the property is then 'sold short' of the total value of the mortgage.

For homeowners to qualify for a short sale, they must fall into any or all of the following circumstances:

Financial Hardship – There is a situation causing you to have trouble affording your mortgage.
Monthly Income Shortfall – In other words: "You have more month than money." A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.

This seems simple enough, but it is a complicated process that takes the expertise of experienced professionals. I hold the CDPE® Designation and am ready to identify all possible options and, when possible, assist in the quick execution of a short sale transaction.

If you would like to know more about your options, please call my toll-free foreclosure prevention hotline (888) 391-0451 and Listen to the Recorded Message.

Understanding your options now could mean all the difference in the world.

Rudy Lira Kusuma is a Foreclosure Prevention Consultant, Certified Distressed Property Expert, and The Short Sale Specialist, serving all San Gabriel Valley and the Greater Los Angeles County. He specializes in Pre-Foreclosure Sales, Loss Mitigation, Distressed Property, Foreclosure Prevention, and Short Sales.
RUDY L. KUSUMA, CDPE®
Certified Distressed Property Expert
Sr. Foreclosure Prevention Consultant

Education and Certifications:
Real Estate Masters (GRI / R.E. Masters™), California Association of REALTORS®
Certified Residential Specialist (CRS), National Association of REALTORS®
Short Sales and Foreclosure Resource (SFR) certification, National Association of REALTORS®
Five Star Certified Short Sale & REO Professional, The Five Star Institute
Certified Distressed Property Expert® (CDPE), The Distressed Property Institute

Memberships:
Arcadia Association of REALTORS®
California Association of REALTORS®
National Association of REALTORS®
Commercial Investment Properties CCIPS Institute
Certified Commercial Investment Member CCIM Institute

Approved Short Sales and Pre-Foreclosure Sales:
Rudy has Successfully Represented Property Owners to Negotiate Short Sales and Pre-Foreclosure Sales. Click Here to see all Rudy's listings.

Areas of Practice:
Distressed Property (Residential / Residential Income / Commercial), Foreclosure Prevention, Loss Mitigation, Pre-Foreclosure Sale, Short Sales

Servicing Cities and Communities:
Alhambra, Arcadia, Azusa, Baldwin Park, Bradbury, Claremont, Covina, Diamond Bar, Duarte, El Monte, Glendora, Irwindale, La Canada-Flintridge, La Puente, La Verne, Monrovia, Montebello, Monterey Park, Pasadena, Pomona, Rosemead, San Dimas, San Gabriel, San Marino, Sierra Madre, South El Monte, South Pasadena, Temple City, Walnut, West Covina, and greater Los Angeles County, Orange County, San Bernardino County, and Riverside County.

Approval Letters:
Rudy has successfully represented home owners to avoid foreclosure and negotiated short sales with over 27 lenders nationwide. A home owner in San Gabriel called him "The Short Sale Master". Another home owner in Alhambra thanked him for obtaining written short sales approvals from both Citi Mortgage and Bank of America. Most recently, Rudy represented home owners in Temple City to negotiate short sales terms with Countrywide. A home owner in Pasadena received a written short sale approval from GreenTree after hiring Rudy to represent him. Last month, another home owner in El Monte facing foreclosure and Rudy successfully negotiated the short sales. Rudy has represented numerous home owners facing foreclosure in the entire West San Gabriel Valley and all Southern California. Rudy has over 87% success rate in obtaining written short sale approvals for his clients. Rudy is the creator of "Written Short Sale Approvals - Short Sales Done Right!", a book containing hundreds of written short sale approvals from lenders nationwide. Rudy complied all the written short sale approvals that he negotiated for clients. To get a copy, please call Rudy 626.780.2221

*JUST PUBLISHED*
Rudy has written "The Home Owner's Guide to Real Estate Short Sales" now available online at Amazon.com and your local bookstores.

Rudy L. Kusuma is a Certified HAFA Specialist - Home Affordable Foreclosure Alternatives

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What is a CDPE^®?

Learn how agents with the Certified Distressed Property Expert^® designation are best suited to help distressed homeowners.

Contact This CDPE^®

RUDY L. KUSUMA, CDPE®

COLDWELL BANKER New Century

960 E. Las Tunas Dr #A

San Gabriel, CA 91776

626.780.2221

www.ShortSalesPlatinum.com

The above brokerage assumes no responsibility nor guarantees the accuracy of this information and is not engaged in the practice of law nor gives legal advice.
It is strongly recommended that you seek appropriate professional counsel regarding your rights as a homeowner.
©2009 Distressed Property Institute, LLC. | All Rights Reserved

Rudy Lira Kusuma is licensed by California Department of Real Estate. CA DRE# 01820322. Broker: COLDWELL BANKER New Century. Each office is independently owned and operated. Rudy is a Certified Distressed Property Expert, Sr. Foreclosure Prevention Consultant, and The Short Sales Specialist. Residential Short Sales, Residential Income Short Sales, and Commercial Short Sales. Serving Alhambra short sales Alhambra foreclosures, Arcadia short sales Arcadia foreclosures, Azusa short sales Azusa foreclosures, Baldwin Park short sales Baldwin Park foreclosures, Avoid Foreclosure Bradbury short sales, Avoid Foreclosure Claremont short sales, Avoid Foreclosure Covina short sales, Diamond Bar short sales Diamond Bar foreclosures, Duarte short sales Duarte foreclosures, El Monte short sales El Monte foreclosures, Avoid Foreclosure Glendora short sales, Avoid Foreclosure Irwindale short sales, Avoid Foreclosure La Canada-Flintridge short sales, Avoid Foreclosure La Puente short sales, Avoid Foreclosure La Verne short sales, Monrovia short sales Monrovia foreclosures, Avoid Foreclosure Montebello short sales, Monterey Park short sales Monterey Park foreclosures, Pasadena short sales Pasadena foreclosures, Pomona short sales Pomona foreclosures, Rosemead short sales Rosemead foreclosures, San Dimas short sales San Dimas foreclosures, San Gabriel short sales San Gabriel foreclosures, Avoid Foreclosure San Marino short sales, Avoid Foreclosure Sierra Madre short sales, South El Monte short sales South El Monte foreclosures, South Pasadena short sales South Pasadena foreclosures, Temple City short sales Temple City foreclosures, Walnut short sales Walnut foreclosures, West Covina short sales West Covina foreclosures, all San Gabriel Valley short sales San Gabriel Valley foreclosures, and greater Los Angeles County short sales Greater Los Angeles County foreclosures, Avoid Foreclosures Orange County short sales, Avoid Foreclosures San Bernardino County short sales, and Riverside County short sales.