Hello, I’m Jason Zweigle right here with ShortSaleSlayerz.com. We are Orangevale’s leading short sale team. Today I wish to talk about the steps to approach a strategic default. It’s real simple the way you do a strategic default in my opinion. Number one, I am not an legal professional or an accountant, so if you’re going to take into account a strategic default, you may want to communicate with an accountant or an lawyer to see what the legal and tax ramifications could be.
If you are a homeowner that may afford your mortgage funds and also you need to protect your credit score, we are right here to help. We are going to merely come in, list your property and present a suggestion to the bank. Then the bank will ask us for your financials and we are going to present them to the bank. The bank could ask questions on why you’re short selling when it appears like you possibly can afford your mortgage payments. We answer these questions honestly with integrity and we let them know your intensions. If you’ll do a default, you basically tell them you’re either going to do this short sale or let your home go to foreclosures because you do not need to stay in a home that’s $100,000 to $200,000 upside down. As a rule, the financial institution is going to determine it should make sense for them because they get more cash for the short sale then if it goes to foreclosure.
So, you’ll continue to make payments, we go ahead and complete the short sale and you are done and put that debt behind you. There will be a derogatory remark on your credit score report. It is going to say one thing to the effect satisfied in full, short pay, and that does have a destructive impact on your credit score report. If you happen to stay current during that point, you can truly buy a house either simultaneous close or after you close your escrow on your short sale, there are loans in place where you can buy a downsized dwelling or house of lesser value. This is nice information on the strategic default process.
Thanks for visiting the web site, ShortSaleSlayerz.com, we’re Orangevale’s main short sale team. When you’ve got any questions, you’ll be able to reach out to me at my 800 number or just leave a comment and check out our free download on short sales. Thanks and have an amazing day.
Do you need to sell you home or are you underwater and can’t make your mortgage payments? Jason Zweiglye and the Short Sale Slayerz can answer your short sale questions. We are California Short Sale Specialists.
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