Calabasas Short Sales

October 31, 2011 by  
Filed under Calabasas Short Sales

If paying your mortgage is a financial burden and you owe more on your property than what it’s worth, you should highly consider a short sale.  Foreclosing on your property will cripple your credit while leaving your neighborhood with a decreasing property value.  In a short sale, a lender or bank will accept less than what’s owed on the property, leaving you free and clear of your mortgage payments.  These transactions are ideal for lenders because it’s easier for them to cut their losses and avoid the difficulties of the foreclosure process than to try to collect from a homeowner who doesn’t have what’s owed.  More and more short sale transactions are occurring, as homeowners are trying to climb out of debt

Even in upscale neighborhoods like Calabasas, property values have decreased significantly.  Calabasas property has always been at a premium because of its one of a kind location, and the available space but economic hardships have affected even the most affluent cities.  As the values of property declines, Calabasas homeowners who don’t own their houses outright are paying high ticket mortgages that will only continue to rise.  Usually, these homeowners will owe more than what their house is now worth.

If you owe more on your Calabasas property than what it’s worth, contact Housing Assist of America for further information on the short sale process.  Housing Assist of America has helped more than two hundred homeowners conduct a short sale of their home, and they can certainly help you if you are trying to alleviate yourself of the pressures of debt.  Housing Assist of America has helped dozens of valley homeowners move their properties.

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