The housing crisis has put many Laguna Beach homes "underwater"—their value has dropped so much that they’re worth less than the mortgage owed on them. For homeowners, the only alternative to foreclosure is a short sale. This basically means selling the home for less than what is owed on the mortgage, and having the lender accept the payment as settlement for the loan.

Of course, not all lenders are open to the idea of short sales. That’s why you need a Laguna Beach realtor to help you through the process and make a strong, convincing case. Read on for more reasons why a realtor is worth your time and money in a short sale.

Packaging your application

For most banks, it takes very precise paperwork to paint a good picture of your financial situation. You may need bank statements, tax forms, pay stubs, your latest mortgage bills and proof of other expenses. A Laguna Beach realtor can help you get your documents in order and make sure you meet your lender’s requirements.

Presenting your hardship

One of the main requirements for short-selling Laguna Beach homes is a hardship letter. This is where you explain how you fell behind and why a short sale is your best option. Your realtor can give you pointers on writing your letter in a way that’s factual yet convincing, strong but concise—and guaranteed to get the results you want.

Negotiating with your bank

Short sales almost always involve a bit of negotiation, particularly on the home’s value and selling price. Your price must be backed by solid market data, which a Laguna Beach realtor can easily provide. By offering sales information from comparable Laguna Beach homes, you show your lender that you know what you’re doing and won’t settle easily.

Selling the property

Time is of the essence when it comes to short sales, but the problem is that Laguna Beach homes take a bit of time to sell. With an experienced Laguna Beach realtor, you can speed up the process by getting word around, marketing more efficiently, and showing your home to more potential buyers.

Getting back on track

Once you’ve sold your home, you’re ready to start over and rebuild your financial future. A good Laguna Beach realtor can offer help even after closing day, giving you advice on taking out new credit, improving your credit score, and even checking out new Laguna Beach homes once you’re ready to buy again.