Archive for the ‘Adverse Impact’ Category

What To Do If You Cannot Pay Your Mortgage And You Need To Keep Away From Foreclosures

Tuesday, October 25th, 2011

Hello, I am Jason Zweigle with We’re certainly one of California’s main short sale teams. The topic today is what to do when you can’t make your mortgage payments. There are several options for you if you cannot make your mortgage payments. You’ll be able to reach out to your bank and talk to them a few mortgage modification. Many individuals try to do loan modifications and it’s probably the most frustrating experiences they’ve ever gone through. Whether or not the bank won’t reply or lose your paperwork ten or fifteen times. I’ve even heard tales from purchasers that didn’t go through us and wound up making an attempt to do a loan modification and lost their house to foreclosure in the course of mortgage modification. In our opinion a mortgage modification isn’t the best solution.

You can also do foreclosure, just walk away and let the bank take it back. This also isn’t the most effective solution. You may also do a deed in lieu of foreclosure and what that means is you tell the bank they need not foreclose on your house, you will voluntarily leave. No harm, no foul. Foreclosures and deed in lieu of foreclosure both have a adverse impact on your credit. Each of these also leave you open to second lien holders and generally first lien holders with the ability to come after you to try and gather that unpaid balance. That can be a scary factor as well whenever you’re trying to recover financially.

I believe an exceptional answer in today’s market and the banks are beginning to see that short sales are what are going to dig us out of this real estate nightmare and this big lack of value. Number one, a short sale is a big benefit to you the seller. You’ll be able to walk away from your house, get out of debt, not owe anything, truly get just a little bit of cash in your pocket and move on. For the financial institution, they get a little bit bit more cash from a short sale than a foreclosure. The rest of the neighborhood won’t have the unpleasant vacant houses which might be getting vandalized.

So if you have any extra questions, fill out the form below. You can also use the form below to get to our free short sale calculator. It is an excellent device and I really encourage you to make use of that. We’re, certainly one of California’s leading short sale teams. We’re here that can assist you make the appropriate resolution on your situation. Have an amazing day, thanks very much.

Get more help from short sale Realtor, Jason Zweigle, at

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