Downey Homeowners: Conduct A Short Sale Of Your Home and Avoid Foreclosure

Underwater on your home?  Is foreclosure imminent?  Before your let the bank take your Downey home, you should highly consider a short sale.  Many people still feel that foreclosure is the only option if upside down on mortgage payments, but filing for foreclosure not only destroys credit, but it carries with it a certain stigma that is somewhat shameful.   Conducting a short sale of your Downey home is not only a different option, but a much better choice.

What is a short sale?  A short sale is an agreement between the lender and the borrower in which the lender agrees to accept a lesser amount than the total owed on the house.  Lenders will complete short sales for a few reasons.  For starters, they will no longer have to chase borrowers for payment.  Also, they will also avoid the costs and efforts of foreclosing on the property.

How do you conduct a short sale of your Downey home? Well, the first thing you should do is contact for more information.  If you are in trouble of losing your Downey home, Housing Assist can help you immediately.  Call us right now!

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