How does a short sale work in Glassell Park?

1. Call the servicer and ask whether it reviews short sales and what it needs from you.
2. Talk with a HUD-approved counselor. A HUD-approved housing counselor offers independent help; HUD says you don't need to pay fees for foreclosure prevention help. Use HUD's counselor search or call (800) 569-4287.
3. Get a property-specific home review showing the likely sale range against what is owed.
4. List the house with short-sale terms disclosed to buyers.
5. Assemble the hardship package: letter, income, bank statements, tax returns, as the lender requests.
6. Submit the accepted offer with the package; the lender orders its own valuation.
7. Respond quickly to lender questions or counteroffers until each lender agrees in writing.
8. Close escrow on the terms in the approval letter.

Don't pay upfront fees to anyone promising to stop a foreclosure or arrange a loan change. The CFPB warns about foreclosure relief scams, and HUD-approved counseling costs nothing.

That depends on your loan, finances and goals, and the comparison is one to make with a counselor, an attorney and a tax adviser. Here is how the two differ on the real estate side:

If the house is worth more than what is owed, a regular sale may fit better; see selling before foreclosure in Glassell Park.

The lender compares your offer with its own valuation of the house, often a broker price opinion or appraisal. That's why the listing needs good documentation:

• Recent nearby sales adjusted for slope, view, stairs, parking and access
• Photos and bids for real condition issues (roof, foundation, drainage, panel)
• A buyer with proof of funds or a strong loan approval
• A clear, complete closing estimate

Usually only cleanup and safety items, since the lender rarely funds improvements. If a buyer's lender requires repairs on a hillside lot, check the zoning first: where it carries "HCR," the City's Hillside Construction Regulation District sets work hours. LADBS lists 8:00 a.m. to 6:00 p.m. on weekdays and interior work only on Saturdays. The City added the Northeast Los Angeles Community Plan Area to the HCR designation by Ordinance No. 187,900, effective July 24, 2023. Get the lender's agreement before spending on anything.

The house still has to be cared for and kept show-ready.

• ☐ Fire zone: Fire-hazard designations vary by parcel, so check yours on ZIMAS. In the Very High Fire Hazard Severity Zone, LAFD requires owners to keep brush cleared year-round within 200 feet of structures.
• ☐ City report: LADBS requires City home sellers, with some exceptions, to give the buyer a Residential Property Report ($70.85 per report as of October 28, 2026); a report issued in the last six months can be reused, so check with LADBS before ordering.
• ☐ Insurance kept current, and utilities on for showings and inspections
• ☐ City line: Glassell Park's Neighborhood Council boundary meets the City of Glendale line, and City of Los Angeles selling rules apply only to addresses inside LA City limits, so confirm the parcel on ZIMAS before relying on them.

In many short sales, the lender's approval letter sets which costs are paid from the sale. As of October 28, 2026, a City of Los Angeles sale carries County transfer tax of $1.10 per $1,000 and City transfer tax of $2.25 per $500. For qualifying transactions closing after June 30, 2026, Los Angeles Measure ULA imposes an additional 4% tax when the value conveyed exceeds $5,400,000 but is below $10,900,000, or 5.5% when the value conveyed is $10,900,000 or more. The applicable ULA rate is calculated on the full gross value conveyed, not just the amount above the threshold. The City's 0.45% base transfer tax and the County documentary transfer tax are separate charges. Confirm the calculation and any applicable exemptions with your escrow officer.

The amount or rate of real estate commissions is not fixed by law. They are set by each broker individually and may be negotiable between the seller and broker.

What to bring to your CPA or attorney: the lender's approval letter, any deficiency or debt-forgiveness language in it, any 1099 forms you receive later, and the final closing statement.

Sidney Manzo, CA DRE #01108914
In real estate since 1990 · RE/MAX Hall of Fame · Member, Pasadena Association of REALTORS® and California Association of REALTORS® (C.A.R.)
Brokerage: RE/MAX Dream Properties (ASLG Inc), CA DRE #02142193

Related guides: selling before foreclosure in Glassell Park · selling a Glassell Park house as-is · selling a house in Glassell Park · short sales in Mount Washington, Highland Park and Eagle Rock · short sale service overview.