Southern California Home InfoHow Can I Make it Go Away?Having problems making your house payment can be very stressful when you cannot come up with the money or are out of work. The amount of people going through what you are going through is huge. Doing nothing is not the answer. Yet 70% of all people sit and wait for someone to either help them or kick them out of their home. Doing nothing at that point, has caused their credit to plummet, and have an eviction on their record. This is not a good way to "Start over." Starting over is what will happen sooner or later and if you better prepare for it while you are in the middle of the problem is sure better than trying to play catch up for years to come. Scenario one - Short Sale Sell your home just like a regular sale with the caveat of your agent asking the lender to accept less than what is owed. Sell house in short sale and fully understand what is happening, and when it will happen. You will know when you have to move, and you will have minimized the losses on your home, and tax implications. You may have bad credit for around 2 years. Keep the security clearance or the chance of getting one. Able to find a new home to live. Able to purchase a new home in as little as 18-24 months. Easier to find a job when background checks are done.
Scenario two - Do nothing Do nothing. Have posters put all over your windows, notices of Foreclosure, notice of eviction etc. Have the house foreclosed upon. Embarrass your family. Bring down the standard of living in the community. Get evicted. Have bad credit for 7 years. More than likely never be able to buy a home again without putting a large down payment down. Pay more for anything and everything you buy on credit as it will cost you more for 7 years due to the high interest rates. Loose security clearance. Harder to find work as credit is looked at, as a back ground check is more prominent now that computers have easy access. Difficult to move or find a new place to live for years to come. If your home is not upside down you can list your home for sale with a local licensed Real Estate Broker - Realtor. If your home is upside down I suggest you go to the upside down page and review your options with a Real Estate Attorney and a CPA. There are future implications and knowing your options is a great start. As a California Licensed Real Estate Broker, I can offer to list your home for sale as a "short sale" and in part ask the lender to accept less than what is owed on the loan. |
SO CAL HOMES REALTY
(951) 821-8211 Harold Sharpe is the owner of Harold Sharpe is a
Licensed Harold Sharpe is a Harold Sharpe specializes in Selling Houses, and Finding homes for people. So Cal Homes Realty is the Real Estate Brokerage to assist you in Buying or Selling a House. Feel Free to call Harold at (951) 821-8211 Monday - Sunday 9am - 7pm |
