How a Short Sale Will Affect Your Ability to Buy Another Home

Many San Diego homeowners have worked hard to preserve good credit. Some come to us with a pristine credit record, yet are saddled with debt – most of which they have incurred in order to keep current on mortgage payments. The conclusion that they need to offer their house as a short sale is a very heavy one to reach for...

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Don’t use your Visa to make your San Diego home mortgage payment!

Holding on to your home is an honorable goal, but going deep into credit card debt to do so is a sure path to economic ruin. Your credit cards will only go so far, and then what? You could lose the house to foreclosure and be left with a huge high-interest unsecured debt. Don’t wait and let the situation get worse. If...

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Are the Banks Negligent, Indifferent, or Inefficient?

Whatever they are, their actions all too often spell financial loss for San Diego homeowners. Here are 3 ways that loan servicers and asset managers are keeping some San Diego homeowners in distress. 1. Asset managers routinely delay their response to short sale requests. Most San Diego home buyers want a “yes or no” answer...

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What Are The Alternatives to Foreclosure?

What can I do if I want to avoid foreclosure? Walking away and letting a home go into foreclosure will destroy your credit rating for many years – and even longer if you get stuck in a zombie foreclosure. Let’s take a look at the other options for San Diego homeowners: Sign a deed-in lieu of foreclosure. Work with...

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Is it possible to just walk away?

Yes, it is possible to walk away. Under California’s new laws, when you go through foreclosure, the banks cannot sue you for a deficiency on your first mortgage. However, if you have a second mortgage or a home equity line of credit, they can. And they probably will. (One of the benefits of a short sale vs a foreclosure...

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