With 60 short sale listings on the market right now in Laguna Beach, California we are seeing a huge increase in the number of short sale homes on the market. What is a short sale? Well, a short sale is where a homeowner is in distress and can no longer afford their mortgage payments. The property has not gone into foreclosure but typically mortgage payments have been missed and foreclosure can be just months away. The homeowner decides to put their home on the market to short pay the bank the difference in amount owed to the bank and the price a buyer is willing to offer on their home. A good short sale agent will prepare all short sale documents and negotiate with the bank to have the difference forgiven. Keep in mind that short sales can take a lot of time and can be very difficult to work with the banks. We highly recommend using a skilled short sale agent to work on your behalf. If you have been thinking of doing a short sale please contact any of our expert short sale agents today to go over the short sale process. We can be reached anytime at 949-355-1622.