SAN DIEGO, CA–(MARKET WIRE)–Mar 4, 2009 — For the first time in 26 years, California’s jobless rate exceeded 10%, and is expected to force many more homeowners into foreclosure if action is not taken. Many homeowners are unaware that unemployment disqualifies them from a loan modification while actually qualifying them for a short sale. Short Sale Pros, a no-cost short sale negotiation firm, helps distressed homeowners investigate and implement options to avoid foreclosure.

The trend toward unemployment and increase in foreclosures is evident nationwide. However, foreclosure is not the only option if income is lost. A better option is a short sale, allowing homeowners to walk away from the home while avoiding foreclosure on their credit.

Homeowners facing foreclosure can contact Realtors or short sale companies once they have missed at least one mortgage payment. Few Realtors are skilled at processing complex short sales and some companies charge thousands to process a short sale, however Short Sale Pros offers the service at no cost.

San Diego school teacher Marlen Sepulveda stated, “When my adjustable rate mortgage increased and my salary became in jeopardy due to employment conditions, I didn’t know where to turn when I couldn’t afford my mortgage anymore. I contacted Short Sale Pros and they answered all my questions and negotiated my short sale, all at no cost to me.”

Over the past twelve months, unemployment has increased to 1.8 million in California, a sharp increase from 1.1 million a year earlier, according to data from California’s Employment Development Department in February.

“In 2009, we’ll see unemployment numbers directly impact the number of foreclosures. Homeowners may not be aware of their options,” said Michael Corradini, president of Short Sale Pros. “Short sales give homeowners a way to avoid foreclosure and positions them to be able to buy another property sooner.”

Based in San Diego, Short Sale Pros is leading America’s recovery as one of the fastest growing short sale negotiation firms. They are one of the only companies to offer No-Cost negotiations to Homeowners and Investors, and full commissions to Realtors. Their firm streamlines the complicated short sales process by utilizing their lender contacts, proprietary mitigation techniques and handling all the paperwork necessary for the transaction. Realtors, investors and homeowners are encouraged to get informed at no cost at www.ShortSalePros.com or 866-975-PROS (7767).

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Tags: california, homeowner, short sale, short sales, unemployment

This entry was posted on Wednesday, March 4th, 2009 at 11:41 am and is filed under Short Sales. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.