Do you own a home and Gardena California? The foreclosure inventory for the last 5 years has stayed the same. On average you have about 300-400 homes in active foreclosure. You may be wondering when the real estate market is going to start going back up. Well lets just say not for several more years! If your curious what the value of your home is today go to Short Or Stay Calculator
This website will give you a Zillow value of your property and will also tell you when you may have equity again and how much you will spend in the meantime to just breakeven. The Gardena home values in 2005 to 2006 were between 400 and $600,000. Today, 2012 home values range between $250-$400,000. 6 years after the real estate market crashed home values are still going sideways.
One of the biggest reasons why people move from Gardena
Schools- primarily middle school and high school.
So you may be sitting there wondering is a short sale right for you?
For most people the answer is yes!
- Simply being your house is your primary residence, so you’re able to write off any taxes for the short pay
- Your mortgage is probably more than $100,000 upside down and is interest only
- You can probably rent a house in same neighborhood for $1,000 to $1500 less per month
So why has it taken you 6 years to make this decision?
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Professor White’s Paper
Don’t worry your not alone! Most people are trying to do what they feel is right.
- Honor our word
- Make good on our promise to pay.
Caution!!! You are working with a bank not someone that has compassion and cares about you and your personal situation. Its about return on investment! When will you be sending them there money? They will often ask…if you don’t have the money who can you borrow it from? They don’t care about if you have food on the table or not! The sooner you believe and understand this the better you will be prepared for whats to come.
I talk to people daily that have been fighting a battle with the lender over getting a loan modification. Many that have chosen to take on this task of getting a loan modification have since realized how much the bank really doesn’t care about your personal problems. Many times homeowners cannot get help until they are at least 30 days past due on their mortgage. Regardless of the circumstances, even if you have a letter from your employer stating your going to be unemployed in the next 45 days…. you would not get any assistance until you’re 30 days late.
So the whole time were trying to do things right only to find out it doesn’t make a difference!
You need to do what’s best for you and your family and take control over your financial future and not worry about the bank!
I’m sharing this with you NOW so you go into a loan modification with realistic expectations. Click here to watch my video on how to get a loan modification.
Do you have Loan modification or Short Sale Questions you want answered?