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 you wait, the financial fallout can be even more dire…
If you are in financial trouble or think you may be headed that way, consider getting out from under that house debt through a short sale. Under California law, the banks that own your home loan or loans cannot come back to you for the deficiency if you sell. If you allow the house to go into foreclosure, your second lien holder can sue you and obtain a deficiency judgment.
Meanwhile, if you’ve run up credit card debt that you can’t or don’t want to pay, the credit card companies can also sue and obtain judgments.
The only way out of those judgments is to pay them or file for bankruptcy.
Once you’ve listed your home as a short sale with an experienced San Diego short sale agent, you can stop making those payments – giving yourself space to breathe and to accumulate some funds.
Experienced is the key word. Don’t list with an agent who lacks the experience and expertise to not only find a buyer but to negotiate with the banks to bring your short sale to a closing. This is the time to enlist the aid of short sale specialist.
The economy is still in an unsettled state, being buffeted by forces neither you nor we can control. So conserve your cash and make decisions that will aid in your long term financial health.
To learn more about San Diego short sales and how a short sale will affect you, call 619-929-1413 or write firstname.lastname@example.org for personalized answers to your short sale questions.
We’ve helped hundreds of San Diego homeowners avoid foreclosure and have a track record of 98% success in selling and closing our short sale listings.
Every situation is different, so use this opportunity to get specific answers for your specific situation.
Call today. We’re here to help.
Please note that the information provided on this San Diego short sale page is generic, academic information used for general information purposes and may not be construed as or relied upon as a promise for a specific outcome.
This site provides information about real estate, law, income taxes and credit scores as relates to borrowers in distress, short sales and similar situations. The site is designed to help users safely cope with their own needs. Information is not the same as advice — the application of law or regulations to an individual’s specific circumstances. Although we go to great lengths to make sure our information is accurate and useful, we recommend you consult a lawyer, tax adviser or other specialist if you want professional assurance that our information, and your interpretation of it, is appropriate to your particular situation. The models in photographs accompanying the testimonials on this website are used for illustrative purposes and are not a personal endorsement.