Question from Homeowner: Why would I do a Short Sale instead of saving the monthly payments & letting it go?

Ventura County CA - The Stop Foreclosure Institute recently received a question from Christy. “Why would I do a short sale instead of saving the monthly payments and letting it go into foreclosure?” Christy asked.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

Here is the answer. If you stop paying your mortgage, then you can live in your home rent free for 12-24 months, depending on the state you are located within.

I have seen lenders wait a year after the first missed payment just to file for foreclosure. Yes, you can live in your house for free for a long time. However, a short sale has many advantages over a foreclosure.

It does less damage to your credit and allows you to buy another home in 2 years versus the 5-7 years after a foreclosure. In addition, you can get some money as an incentive for doing the short sale.

If you want the benefits of both, then stay in your home until the foreclosure case has been started. Then, start working on a short sale with your agent. A short sale can take anywhere from 3 months to even 6-9 months to process.

This will allow you to salvage your credit and live "rent free" for 12-24 months. You will be able to wipe out all that upside down debt and move on with your life. Best of all, you will be eligible to buy another home in 2 years once you are back on your feet.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at cjohnson@prucalhomes.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail. If you prefer, then you can call me at 805-208-0823.

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Ventura County Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.

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Thanks for reading this,
Chris B Johnson Realtor

Chris is a Real Estate Agent at Prudential California Realty.

Phone: 805-208-0823. cjohnson@prucalhomes.com.

Certified HAFA Specialist, Certified Short Sale Specialist

View My homes for sale at www.ChrisBJohnsonRealtor.com.

Chris B Johnson Realtor provides Home Affordable Foreclosure Alternative Loan Modification and short sales help, Moorpark Loan Modification Help, Thousand Oaks Loan Modification Help, Westlake Village Loan Modification Help , Newbury Park Loan Modification Help, Camarillo Loan Modification Help, Santa Rosa Valley Loan Modification Help, Somis Loan Modification Help, Lake Sherwood Loan Modification Help, and Simi Valley Loan Modification Help, Moorpark short sales , Thousand Oaks short sales, Westlake Village short sales, Newbury Park short sales , Camarillo short sales, Santa Rosa Valley short sales, Somis short sales, Lake Sherwood short sales, and Simi Valley short sales. Moorpark Short Sale Realtor, Moorpark Short Sale Realtors, Short Sale Realtor. Ventura County CA Short Sales. Ventura County Realtor, Certified HAFA Specialist, Moorpark Short Sale Realtor, Thousand Oaks Short Sale Realtor, Westlake Village Short Sale Realtor, Newbury Park Short Sale Realtor, Camarillo Short Sale Realtor, Simi Valley Short Sale Realtor, Moorpark CA Short Sales, Thousand Oaks CA Short Sales, Westlake Village CA Short Sales, Newbury Park CA Short Sales, Camarillo CA Short Sales, Simi Valley CA Short Sales, Ventura County Foreclosure Help, Moorpark Foreclosure Help, Certified Home Affordable Foreclosure Alternative Specialist, HAFA, HAMP. You can find The Stop Foreclosure Institute of Ventura County at 587 W. Los Angeles Avenue, Moorpark, CA. 93021 Chris also specializes in loan modification assistance and short sales in Ventura County California. Ventura County Loan Modification Help, Ventura County short sales. Ventura County Short Sale Realtor Short Sale Realtor. Ventura County CA Short Sales. Ventura County Realtor.

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Chris B Johnson's personal views and do not reflect the views of Prudential California Realty. This information on Question from Homeowner: Why would I do a Short Sale instead of saving the monthly payments & letting it go is provided as a courtesy to our viewers to help them make informed decisions.