Short Sale

A short sale occurs when a lender agrees to take less the amount that is owed on a piece of property. The benefit of a short sale occurs when your net proceeds from a short sale are insufficient to cover your loan balance, but the lender agrees to take a lesser amount. A successful short sale includes the lender forgiving any remaining loan balance, clearing you from any future contractual obligations to the lender. Emporium Financial Group Inc.  provides short sale counseling and services to any homeowner in the state of California at NO COST.

We at Emporium Financial Group can identify and implement the best possible Short Sale solution. This will help you avoid foreclosure. Our counseling and short sale services are provided at no cost. Once we have reviewed your situation we will negotiate with your lender to come up with a solution. Our purpose is to secure a fair agreement with your lender.

If you are concerned that your house may go into foreclosure and you have not been able to qualify for or complete a loan assistance program, a short sale is an option to consider.

Contact us today at office: 1-888-813-0414 – 626-732-4560
Tulio Cell 626-482-3735.

You may be eligible to sell your home in a short sale if:

  • You have a hardship, such as a job loss, divorce, or medical emergency.
  • You owe more than your house is worth.
  • You’re unable to afford your current monthly mortgage payment.
  • You’re unable to modify your current home loan.
  • Loss of employment or reduced hours
  • Major illness or medical expenses
  • Investment loss
  • Changing loan terms
  • Concerning loan terms/High interest rate
  • Inability to save for retirement
  • Increased anxiety

    Some lenders do not require a hardship explanation, other lenders will require at least some explanation of why you cannot pay your mortgage. Our experience is that all lenders have very lenient rules about what they consider to be a hardship.


    Tulio Cardona is a broker of Emporium Financial Group INC who has experience and knowledge in short sale negotiations. The good news is he will do this for you at no-cost. The lender pays the listing commissions when we sell your property, and while the short sale process is occurring, you are allowed to stay in your home.

    1)  Determine if a Short Sale is Right for you. Please Contact Tulio Cardona office at 1-888-8130414 or 626-732-4560.
    Tulio Cell 626-482-3735, This email address is being protected from spambots. You need JavaScript enabled to view it.

    2)  Obtain Required Documentation. Most lenders require specific documentation, and they don’t all require the same thing. The first required document is a hardship letter, which is sent to the lender and explains why a borrower can no longer afford their monthly mortgage payments. The documents are gathered and sent as a package to the lender. Las 2 years of tax returns, last 2 check stubs, last 2 bank statements for all accounts were you have funds, Identification.

    3)   Market the Property The home is marketed to potential buyers through various channels. You are allowed to live in the home while it is being offered.

    4)  Negotiation of the Short Sale Once there is an offer on your property, we submit the offer and paperwork to the lender and negotiate the deal. Negotiations can be tedious and take time. It’s best practice to continue to market your home and get backup offers because if your first offer wasn’t high enough, the lender will counter and tell you they need a higher offer. An ideal offer is one that is close to the appraised value of the house.

    5)  Finish the Transaction If the offers in the neighborhood of the appraised value, most likely the lender will green light the deal. The next and final step is to begin escrow and close the transaction.


    The advantage of a short sale is not having a foreclosure on your credit report. Short sales may still show up on a credit report as a “pre-foreclosure in redemption” status. Although this can result in a credit score reduction of 100 points or less, a foreclosure will usually reduce your score by more than 250 points. According to Fannie Mae, an individual that forecloses must wait 5 to 7 years, maintain at least a 680 FICO score in the last 2 years, and pay a minimum 10% down on a future home purchase. We have seen customers purchase a new home in as little as two years after their previous short sale.


    Yes. Extensive repairs will be reflected in the list price and will be considered by potential buyers.
    During the Short Sale process, you are allowed to live in the home. It is imperative that the process gets started as soon as possible.


    Please call Tulio Cardona at office 626-732-4560, call or text Tulio cell 626-482-3735 or send email at This email address is being protected from spambots. You need JavaScript enabled to view it.