1-in-5 OC Homes Selling at a Loss
Why are 1-in-5 Orange County homeowners selling their home at a loss? Are they crazy? No, many are acting strategically.
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Why are 1-in-5 Orange County homeowners selling their home at a loss? Are they crazy? No, many are acting strategically.
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Since 2007, more than 2.3 million homes have been repossesed. Today, 1 in 10 mortgage holders face foreclosure. So what can you do to stop foreclosure?
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"This qualifies as a double dip in housing." The experts are saying the housing market news is grim, but hope is not lost if you're underwater on your mortgage.
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Short Sale ABC is a free video-rich educational website that informs struggling homeowners facing foreclosure and investors about the pros and cons of a residential short sale.
If you cannot pay your mortgage because of job loss, a death in the family, medical expenses, or other hardships and are currently paying more for your house than it is worth, you may be a candidate for a short sale. After missing 3-5 months of your mortage payment, you will receive a "notice of default" telling you that your house is in preforeclosure and will be foreclosed on if you do not pay your mortgage or take any action. Foreclosure is not the right option - it is the worst possible impact on your credit (even more so than bankruptcy). While you do have the option of trying for a loan modfiication, these often delay the inevitable foreclosure of your property because a fixed loan modification rate is very difficult to obtain. Ultimately, a short sale often proves to be the best solution to avoid foreclosure and a forefull eviction from your home.
Short Sale ABC is a group of real estate professionals who joined together for the purpose of education and helping those who are facing foreclosure. All of our services are free of charge to the seller - we negotiate with the bank or buyer to pay our Realtor and attorney commissions. If you are a seller, you do not have to pay a dime to short sell your house. If you are eligible to be represented by our team, you will be protected by the experience and wisdom of one of the top real estate attorneys in Southern California as well as Realtors and short sale experts Whitney Robbins or Mark Fitzpatrick of FItzpatrick & Prince Real Estate.
There is absolutely no obligation to pay or commit if you are not ready. Please feel free to watch our free HD educational videos, read recent short sale news, ask questions on our forum, or ask Whitney from Fitzpatrick & Prince Real Estate a question through our Live Help module below. We are here to help you and hope you find this website helpful. |
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