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Short Sale Success In Lincoln!

1192 Davmore Lane, Lincoln

1192 Davmore Lane in Lincoln is a very nice  house in the Lincoln Crossing area.  It has 4 bedrooms, 3 bathrooms and is about 3200 sq. ft. with a beautiful pool that sits on one of the larger lots in the neighborhood.

One tandem, 2 car garage and a single car garage with a huge dining/living room combo.

My buyers are moving down from Redding over the next few weeks and they got a nice deal on a great home.

This home closed at $300,000 even.  The seller’s got $3000 from the HAFA program for moving expenses but they just banked that as they had purchased a home one street over long before going through the short sale process.  This is becoming more common.

While doing some marketing in the area, I met the seller who told me his decision to sell the home was solely based on the fact that he was severely underwater on his mortgage and wasn’t going to suffer financially for something that he was not responsible for referencing the crash of the housing market by Wall Street firms.

This sentiment is pervasive right now in the Sacramento region as well as the rest of the world.  The “Occupy Wall Street” movement is a prime example of the growing dissatisfaction with the inability of the government to act against those responsible for our current economic crash.

The former owner of this home said that in his sphere of friends, it’s the ongoing topic of conversation.

In his case, they were able to qualify for another home, purchased that and let the home on Davmore go to short sale.  The HAFA program provided a mini “bailout” of sorts from the government and, due to new California laws preventing deficiency judgments against homeowners on any mortgage be it purchase money, refinance, first or second mortgages, they walked away with just a blemish on their credit report that will be healed in a couple of years.

This is a far better option than being saddled with underwater mortgage debt for the next 10 to 15 years if not longer.  He understood that this could cost him everything in his family’s future and wasn’t going to stand for it.  I applaud the courage it took to make that decision.

If you’ve considered selling your home short and need some advice please call us.  We’ll provide you with objective information so that  you can make the best decision for you and your family whether you intend to retain us or not.  We’d like to help regardless of your situation.

Please call, text, email or simply fill out the form below and we’ll get back to you promptly.

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