West Sacramento Short Sale Information – How to Avoid Foreclosure in West Sacramento

Looking for West Sacramento short sale information? You have come to the right place. Mike Rigley Certified Default Advocate, Distressed Property Expert and your short sale specialist here thank you for joining us.

Is an West Sacramento Short Sale the only alternative you have to avoid foreclosure in West Sacramento? The answer is a resounding NO. A Short Sale in West Sacramento is but one of the nine alternatives. Today let’s explore the options 1-4.

Reinstatement - You can bring the loan current. Quite frankly if you have the money to do so you more than likely would not be reading this blog

Pay off / Refinance – You can pay of the loan or refinance. If you owe more than yourWest Sacramento property is worth, it is your principle residence and your loan is owed by Fannie Mae or Freddie Mac this is an option. Do keep in mind, if you refinance, you are in essence buying back your West Sacramento property for what you owe, not what you worth. If you are upside down, you will still be upside down

Loan Modification – In a few cases you can get a loan modification from your lender. Only 15% of all loan mods that are applied for actually end up in permanent modifications and then 65% of those end up back in foreclosure. The issue is regardless of the modification rarely is a principle reduction given meaning once again, if you owe more than your West Sacramento home is worth, you will still owe more than it is worth.

Forbearance – This is a form of loan modification where your lender agrees to put the missed payments on the back end of the loan. They do not forgive the debt and you still owe the money but at least you do not have to come up with the missed payments right away. You will still owe the money plus interest but if your situation is short term, this could be a viable option

Next time we will cover options 5-9.

Is a West Sacramento Short sale Right for me?

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 or for the latest West Sacramento short sale information. Call me today and sleep better tonight; you’ll be glad you did.