For the San Francisco homeowners that are unable to maintain your mortgage payment(s) and need an option to avoid possible Foreclosure or worse Bankruptcy. Banks do not want to foreclose on your property. It's an expensive process for them and carries a high level of liability once the bank takes over the property. Wherever possible, banks are willing to look at other options besides foreclosure.
The short sale pre-foreclosure process is at no cost to you and is worth consideration. Here are some hardships that may qualify for short selling a home.
MORTGAGE RELATED REASONS
No Equity available to Refinance
Interest Rate Adjusted
Balloon is due
Huge Negative Amortization
PERSONAL RELATED REASONS
Loss of Employment
Loss of Secondary Income
Medical Related Issues
Divorce or Separation
Military Transfer or Deployment
John Kim - Short Sale Processor