Strategic Default in West Sacramento

Let’s talk about Strategic Default. What the heck is that you say. To be brief, Strategic Default is when you can afford to pay for your West Sacramento mortgage but the property is so far upside down that it just doesn’t make sense to keep paying. So let’s say you owe $400,000 and your West Sacramento house is now worth $200,000. Based on normal appreciation you can expect to pay the property off before it is ever worth what you owe.

Let me say that again, you will pay it offer before it is ever worth what you owe. Is this morally corrupt or just good business? Only you can decide for yourself. I would encourage you to look at it as a business decision. If P&G or Chevron sold off an underperforming or money losing asset their board of directors would say it was a good business decision and their shareholders would reward them with a stock price increase wouldn’t they? Sure they would. Why are you any different?

With the favorable tax laws allowing you in most cases to avoid income tax on the debt forgiveness and the strong California laws prohibiting the lender from pursuing a deficiency judgment, IF you were considering Strategic Default, now would be the time to act.

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