Underwater On Your Santa Monica Property? Consider a Short Sale

Underwater On Your Santa Monica Property?  Consider a Short Sale

Tough economic times have certainly had their affect on the housing market.  Even in upscale neighborhoods like Malibu and Santa Monica, properties have decreased significantly in value.  As the values of these house decline, homeowners who don’t own their houses outright are paying high priced mortgages that will continue to increase.  In many cases, homeowners will owe more than what their house is now worth.

A short sale should be your first thought if owe more on your property than what it’s worth and paying your mortgage is a financial burden.  If your decide to foreclose on your property, you could be left with horrible credit.  If you decide on a short sale, you could wipe out your debt and start fresh.  In a short sale, a lender or bank will accept less than what’s owed on the property.  Lenders agree to short sales because cutting their losses and not dealing with the difficulties of the foreclosure process is a better than collecting form a homeowner who doesn’t ht money they owe.  More and more of these transactions are happening, as homeowners hope to climb out of debt

If you owe more on you Santa Monica property than what’s it’s worth, and you are trying to alleviate yourself of the pressures of debt, 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.

Housing Assist Coldwellbanker