Hello, I am Jason Zweigle with ShortSaleSlayerz.com. We’re one of Orangevale’s main short sale teams. The subject at this time is what to do when you can’t make your mortgage payments. There are a number of choices for you if you can’t make your mortgage payments. You can reach out to your financial institution and speak to them a couple of mortgage modification. Many individuals are attempting to do mortgage modifications and it’s probably the most irritating experiences they’ve ever gone through. Whether or not the bank won’t reply or lose your paperwork ten or fifteen times. I’ve even heard stories from purchasers that did not go through us and wound up making an attempt to do a mortgage modification and misplaced their house to foreclosure in the midst of loan modification. In our opinion a mortgage modification is not the best solution.
You may as well do foreclosure, simply walk away and let the financial institution take it back. This also is not the perfect solution. You may also do a deed in lieu of foreclosure and what meaning is you inform the financial institution they don’t need to foreclose on your private home, you’ll voluntarily leave. No harm, no foul. Foreclosures and deed in lieu of foreclosures both have a damaging impact on your credit. Each of these additionally leave you open to second lien holders and typically first lien holders being able to come after you to try and accumulate that unpaid balance. That can be a scary thing as well if you’re attempting to recover financially.
I feel a phenomenal solution in today’s market and the banks are beginning to see that short sales are what are going to dig us out of this real estate nightmare and this big loss of value. Number one, a short sale is a huge benefit to you the seller. You may walk away from your private home, get out of debt, not owe anything, actually get just a little bit of cash in your pocket and move on. For the financial institution, they get just a little bit more money from a short sale than a foreclosure. The remainder of the neighborhood won’t have the unpleasant vacant properties which can be getting vandalized.
So if you have any more questions, fill out the form below. You can also use the form below to get to our free short sale calculator. It is an amazing device and I actually encourage you to use that. We’re ShortSaleSlayerz.com, considered one of Orangevale’s leading short sale teams. We’re here to help you make the precise determination to your situation. Have a great day, thanks very much.
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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