Contra Costa County · Short Sale / Foreclosure
Short Sales and Foreclosure in Contra Costa County
If you owe more than the house is worth, there are more options than most people are told.
The earliest options are the best ones
Options narrow as the timeline advances. If you are behind on payments or believe you owe more than the property is worth, now is a better time to talk than three months from now.
I worked short sales through the 2009 to 2012 downturn. Parts of this county were among the hardest hit in the Bay Area in that period, so this is familiar ground rather than something I would be learning on your file.
You may not be underwater
Contra Costa values have moved substantially since the last downturn. People who bought at a difficult moment frequently have far more equity than they assume.
One county-specific thing worth checking: if a special assessment such as Mello-Roos is part of what is straining the monthly payment, that is a different problem from an underwater loan and it has different solutions.
Finding out where you genuinely stand is free.
How a short sale runs
The lender agrees to accept less than the balance owed so the property can be sold. It needs their approval and runs on their timeline, which is slower than a standard transaction.
Buyers have to be told that at the start. One expecting a thirty day close who discovers a four month one walks away, and managing that expectation is most of why these transactions close.
Where the other help lives
Loan modification, forbearance and bankruptcy protection belong with a lender, a HUD-approved housing counselor or an attorney. I will tell you when you need one rather than pretending otherwise.
There is no judgment here, and you are not required to explain anything. Call or text (415) 305-6708. More on short sales and foreclosure.
This is a general description and not legal, tax or financial advice.
Frequently Asked Questions
How do I find out if I am underwater?
A free valuation. Contra Costa values have moved a lot since the last downturn, so the answer is frequently better than people expect.
My special assessment is what I cannot afford. Is that the same problem?
No, and it is worth separating out. A payment strained by an assessment such as Mello-Roos is a different situation from an underwater loan and has different solutions.
Contra Costa County
What short sale / foreclosure looks like in Contra Costa County
The Tri-Valley and the 680 corridor. More house for the money, and a commute to price in.
Contra Costa is where Bay Area buyers go when they want space, and the trade they are making is measured in minutes on the 680 and the 24.
- Nearby
- Walnut Creek, Concord, Martinez, Pleasant Hill, Brentwood, Danville, San Ramon, Moraga, Richmond, Pittsburg.
The method
How we do it in Contra Costa County
Short Sale / Foreclosure: keep exploring
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