Moorpark Short Sales: I can't afford my home. What should I do?

Ventura County CA – The Stop Foreclosure Institute recently received a question from Steve. Here is Steve's Question.

"I divorced six years ago. We had had our home on the market for some time, but it wasn't selling. My ex needed money to buy another home.

Since it wasn't selling, we refinanced and split the equity. She used the money to buy another house and I stayed here. I put the home back on the market a little while later.

Today, several years later it still isn't selling. The market value today is $267,000. I owe over $300,000 today.

I am having trouble making the payments. I asked my agent about a short sale, but they didn't offer any help. I want to do the right thing, but can't afford the home anymore.

I have called GMAC, but they haven't offered any help either. Should I just stop making the payments and walk away? What do you think?"

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

Here was my answer. Steve, you probably should talk to your agent again. If you owe more than your home is worth, then a short sale is your only option to sell it. (Unless you can bring cash to the closing table, but it doesn't sound like you have that option.)

I would have a heart to heart talk with my agent about your home. If they wouldn't help me with a short sale, then I would find another agent.

There are thousands of agents in the US and I'm sure you can find someone else that can help you. A short sale is your best option.

You get to live rent free for 3-6 months. After that, you can walk away without owing the bank a penny. That is because most short sale agreements release you from the debt. Best of all, under current lending guidelines you can buy another home 2 years after a short sale, versus the 5-7 years wait required after a foreclosure.

All of the paperwork is handled by your agent. You just give them the basic short sale financial paperwork required by your lender and they handle everything else on your behalf.

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 and answer any questions you may have. Or, if you prefer, 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 bank. Click here to request a copy.

Thanks for reading this, Chris B Johnson.

Chris B is a Real Estate Agent at Prudential California Realty.

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

Certified HAFA Specialist, Certified Short Sale Specialist

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

Chris B Johnson provides HAFA Loan Modification and short sales help, Short Sales in Moorpark, Short Sales in Thousand Oaks, Short Sales in Westlake Village, Short Sales in Newbury Park, Short Sales in Camarillo, Short Sales in Santa Rosa Valley, Short Sales in Somis, Short Sales in Lake Sherwood, and Short Sales in Simi Valley California. 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. CA. DRE 10501699.You can find Ventura County Short Sale Realtor at 587 W. Los Angeles Avenue, Moorpark, CA. 93021Chris 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.
This information on Ventura County Short Sales: 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.
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