5. Partial Claim – This would
involve getting a second mortgage to cover the missed payments and back
interest. Really – if your West Sacramento home is already upside down and you
are struggling to make payments, what sense would that make?
6. Deed in Lieu of Foreclosure. It
has such a nice sound to it doesn’t it. Just turn the keys back to the bank and
all is forgiven right? WRONG. This is still a foreclosure. It still shows up on
your credit as a foreclosure and is really only a good deal for the bank not
you
7. Bankruptcy – An answer but not an
end all to be all. In most circumstances the property will have to be disposed
of one way or another be it short sale or foreclosure. The bankruptcy will
allow you to stay in the property a little longer but in 3-6 months you will be
right back in the same boat you are in right now property wise
8. You can do nothing – Odd as it
sounds this is a solution. You won’t avoid foreclosure but if you are willing
to risk the credit hit and potential liability for the unpaid balance on the
second, nothing says you have to do anything but wait for the property to sell on
the court house steps.
9. Sell the property – If you have
equity you can sell the property and close the loan. If you owe more than your West
Sacramento home is worth you can short sale. There are pros and cons
of a short sale as well so it is always best to get a free consultation.
To get a better idea of when your West
Sacramento home will be worth what you owe, log in to www.shortsaleandloanmod.info
for a free estimate or call me today for a free no obligation consultation.
Call me today and sleep better tonight; you’ll be glad you did
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