Category Archives: Short Sales

Short Sale closed in 56 Days!!!

MLS#: T11011540

Listing Date:01/28/2011

COE Date: 03/25/2011

Only two weeks before auction, I started negotiations & successfully got Trustee Sale canceled, got approval, opened escrow and closed transaction, all in 56 days!

No out of pocket costs to seller!

I am a phone call (or email) away if you need my help. Contact me at 909-972-1616 or Please share this message to let your friends & family know that I am here help.

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Short sale closed in only 63!!!

Successfully closed another short sale in only 63 days from listing to COE. Saved this house from foreclosure when it was only 2 weeks away from auction. If you are in similar situation, I can help. Call me at 909-972-1616 to discuss your options. I have helped many homeowners take the right step in right direction and I would love to be of help to you. Please share this post to spread the word.

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Short sale within 90 days from listing!

Successfully closed short sale within 90 days from listing! See how we helped this couple come out of their financial hardship and how it influenced their personal life!

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A quick look at Senate Bill 931

Effective Jan 1, 2011, Senate Bill 931 protects CA homeowners of SFR and investment properties (1 to 4-family properties) who do short sales by prohibiting 1st lender to pursue a deficiency judgment against the HO if short sale is approved. For details, visit:

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Short sale closed within 90 days!

Another successful short sale closed within 90 days from listing!!!! Hear what our clients say about us:

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Short Sales and Tax Implications

Watch this short video to understand about the tax implications if you do a short sale. Colleen also talks about the Mortgage Forgiveness Debt Relief Act:

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What do homeowners have to do in a Short Sale?

Watch this short video to learn about the requirements for doing a short sale:

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Effect of Short Sale on Credit

Watch this short video to see how a short sale would affect your credit vs. a foreclosure or a bankruptcy:

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What is a Short Sale?

Watch this short video to learn how a short sale can help you if you cannot afford your mortgage payments:


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Do You Want to Short Sale Your Property but Are Worried that You Can’t Afford to Pay Real Estate Commissions? No Worries!

Did you know that it does NOT cost anything to homeowners if they short sale their property?

In other word, you can avoid foreclosure, do a short sale, and save your credit report, all for FREE. Period. No costs to seller, whatsoever. No strings attached. It’s hard to believe, but it’s 100% true.

It is a sad and unfortunate fact that most of the distressed homeowners do not take any action to save themselves from foreclosure for many reasons. A lot of homeowners are worried about paying real estate commissions to agents who sell their homes. “I think that a short sale is my best option, but I can’t afford to pay the real estate agents’ commissions.”

The reality is that agents are paid by the short sale mortgage lenders, and NOT homeowners. Homeowners do not pay real estate commissions to do a short sale. Real Estate agents do all the work to get a short sale approved and are, in turn, paid commissions by the short sale mortgage lender.

Now, you might be thinking that why would the mortgage lender accept a discounted payoff and pay commission to agent for doing a short sale when they can recover the money by doing a foreclosure sale? The truth is, lenders actually lose more money in foreclosure sales than in short sales. In the case of a foreclosure sale, mortgage lenders have to go through process of foreclosing and then putting the property on market. Also, since the properties are no longer occupied, they are more prone to damage and vandalism. Banks are in the business to lend money, not to own properties. If the property becomes an REO (real estate owned; bank owned), the bank now has the responsibility to pay property taxes, insurance, utilities, etc. They have to keep the property up by paying somebody to mow the lawn, clean the inside, inspect it to make sure that there are no squatters, break-ins, vandalism, etc. If the property is in terrible shape, the bank may also need to do repairs on the property as well.

Mortgage lenders do not like excess inventory and bad loans on their books. So, they pay commissions to real estate agents for helping them in getting these problem loans off their books. Real Estate agents work with homeowners and help them compile and put together all the necessary paperwork to apply for a short sale. They negotiate with the mortgage lender to approve the short sale, and once the short sale is approved and the property is sold, mortgage lender pays commissions to the agents for their services.

Is a short sale right for you? Certainly, losing one’s home is a painful and devastating experience, but it is important to stay composed in these distressed times and focus on ways to ensure that you do not close doors to future possibilities.

Did you know a foreclosure stays on your credit record for SEVEN YEARS? It is time to act wisely and make the right decision so that minimal damage is done.

Still not sure about your options? Give me a call at 909-972-0041, and we will discuss your situation and the options you have. Don’t worry, I will not charge you anything for this. It will be a 100% FREE, no obligation consultation session.

Act today, and save your future.

Colleen Coleman

Broker 01470735

P.S. I’ve closed over 90% of my short sale listings. The national average is 15 to 20%.



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