Do you, the homeowner, owe more $ to the Lender than $ you will receive from the sale of your property?

(IF SO - YOUR PROPERTY IS UPSIDE DOWN)

Here is a checklist if you are unsure: 

       Sales Price Less:

• Loan Pay Off (include pre-payment penalties)
• Sales Commissions
• Unpaid Taxes
• Repair Costs
• Escrow and Title Fees
• Buyer Incentives

If this is a negative number continue:

SOLUTIONS IF YOUR PROPERTY IS UPSIDE DOWN:

• Stay in the House - Do Nothing
• Sell the House and pay the Lender any Negative Amount
• Rent out the House, check to see if you have a negative cash flow situation and account for losing more equity as the market declines.
• Foreclosure, let the lender take your your
• Short Sale - Lender Accepts as Payment in FULL an Amount that is LESS than what is Owed on your House.

IF YOU WOULD LIKE TO SEE IF YOU QUALIFY FOR A SHORT SALE PLEASE CALL US FOR A CONFIDENTIAL TELEPHONE INTERVIEW AT 951-520-0515.