General information, not legal or tax advice. Sidney works alongside your attorney and CPA. Rules as of October 15, 2026; they change, so check the official sources listed below.
For San Dimas sellers, how does the lender decide on a short sale?
Each loan holder looks at the hardship letter, income records, the offer and the projected net, and the loan holder then orders its own valuation of the home. Before approval arrives, note — Recording a sale in San Dimas triggers only the County's documentary transfer tax at $1.10 per $1,000, which is $0.55 per $500, because the Registrar-Recorder's list of five cities with an added city rate (Culver City, Los Angeles, Pomona, Redondo Beach, Santa Monica) does not include San Dimas (lavote.gov). The net sheet lists every cost that reduces what the lender receives, transfer tax included; ask for a property-specific San Dimas valuation to compare the likely price with the payoff.
Can garage-sale permits slow approval of a San Dimas short sale?
Local San Dimas rules belong in the file before the lender's valuation, so check them up front; while the lender reviews, check this early — San Dimas surveyed all pre-1940 buildings in 1991; more than 300 structures are listed as locally significant, state-level significant or potential National Register properties (sandimasca.gov). Something buyers weigh when listing — San Dimas issues garage-sale permits through its Apply For > Permits page; relevant to an estate clean-out (sandimasca.gov).
In San Dimas, a general law city, who owes the difference after a short sale?
On a one-to-four-unit property, once the lender consents in writing and the sale closes, CCP §580e generally bars a deficiency claim for the shortfall; there are exceptions, so a lawyer should read the approval letter before you sign first.
For San Dimas sellers, is forgiven mortgage debt taxable after a short sale?
A short sale's forgiven balance may show up as income; IRS Publication 4681 notes the principal-residence exclusion ended for discharges after 2025 (the IRS publication); California treatment is separate, and the Franchise Tax Board explains its own rules (ftb.ca.gov). A CPA should review any Form 1099-C before you accept terms; this page is not tax advice.
In San Dimas, a general law city, what do second mortgages and HOA dues add to the file?
Junior lenders each sign off separately, which can lengthen the review; if the home is in an HOA, past-due dues show up in escrow and on the net sheet, so get an HOA payoff early.
On a San Dimas sale, what credit effects should a seller expect?
Reporting differs from file to file, and nobody here predicts a score; a nonprofit, HUD-approved counselor reviews the specifics (consumerfinance.gov).
When selling in San Dimas, do the short-sale review and the foreclosure clock overlap?
A pending short-sale file does not pause the trustee's calendar for a San Dimas owner; if a Notice of Default has recorded, the three-month and 20-day periods continue (Civil Code §2924f); the earlier the file is complete, the more time the lender has on a San Dimas file. The Notice of Default timeline is laid out on the foreclosure help guide for San Dimas.
For San Dimas sellers, what does Sidney do on a short sale?
Sidney Manzo (in real estate since 1990) sets the price of a San Dimas short sale from recent sales nearby and lists it on the open market, then keeps the purchaser informed during review. For context for the listing — Per the County's '88 Cities, Incorporation and Population' table, San Dimas has been a city since August 4, 1960 and is a general law city in LA County Supervisorial District 5, estimated at 33,905 residents on January 1, 2025 (file.lacounty.gov). Offers are presented with the lender's review in mind; see selling a house in San Dimas for the local listing steps. A San Dimas short sale moves through the statewide steps in the California short sale overview.
In San Dimas, a general law city, who else helps an owner through a short sale?
A HUD-approved housing counselor can help assemble the hardship package at little or no cost; HUD's line is (800) 569-4287 (hud.gov); an attorney reviews the approval letter; a CPA reviews the forgiven-debt question. If the house needs work, an as-is sale in San Dimas skips the remodel; if a court case controls the property, probate sales in San Dimas explains the court steps.
Last reviewed by Sidney Manzo · About Sidney
Questions
What do San Dimas owners ask?
- On a San Dimas sale, what does the lender want in the hardship package?
- A San Dimas hardship package usually holds a hardship letter, proof of income, bank statements, tax returns and the offer; Sidney and a HUD-approved housing counselor can help a San Dimas owner put it together for free.
- In San Dimas, a general law city, how is the price set when the bank has to approve it?
- Recent sales of similar San Dimas homes nearby set the range, and the lender's own valuation has to agree with the contract price; Sidney Manzo prices a San Dimas short sale with the lender's review in mind.
- With a home in San Dimas, can I short sell my home if I'm not behind yet?
- Possibly; for a San Dimas owner who is current, many lenders require a documented hardship rather than a missed payment; a HUD-approved housing counselor can review whether a San Dimas owner qualifies for free.
- On a San Dimas sale, how many weeks does a short-sale approval take?
- There is no standard San Dimas timeline; it differs by lender and by the number of liens, and nobody may promise a date; build the San Dimas escrow timeline around written approval.
- With a home in San Dimas, does a short sale leave me owing the difference?
- In most cases, no; if the lender approved the sale in writing and the property has one to four units, CCP section 580e generally bars a deficiency claim. Exceptions exist, so a San Dimas seller should have a lawyer read the approval terms before signing.
Sources
Sources
- LA County Registrar-Recorder: documentary transfer tax (accessed October 15, 2026)
- sandimasca.gov: San Dimas surveyed all pre-1940 buildings in 1991; more… (accessed October 15, 2026)
- County of Los Angeles: 88 Cities, Incorporation and Population (accessed October 15, 2026)
- sandimasca.gov: San Dimas issues garage-sale permits through its Apply For… (accessed October 15, 2026)
- California Civil Code §2924 (accessed October 15, 2026)
- California Civil Code §2924f (accessed October 15, 2026)
- California Code of Civil Procedure §580e (accessed October 15, 2026)
- HUD: Avoiding foreclosure (accessed October 15, 2026)
- CFPB: Find a housing counselor (accessed October 15, 2026)
- IRS Publication 4681 (accessed October 15, 2026)
- Franchise Tax Board: Mortgage forgiveness debt relief (accessed October 15, 2026)
Your agent
Who reviews your home?
Sidney Manzo, Agent, CA DRE #01108914.
- In real estate since 1990
- 155+ closed sales
- RE/MAX Hall of Fame
- Member, Pasadena Association of REALTORS® and C.A.R.
RE/MAX Dream Properties (ASLG Inc), CA DRE #02142193
Last reviewed by Sidney Manzo.