Hello, I’m Jason Zweigle here with ShortSaleSlayerz.com. We’re Roseville’s main short sale team. Today I wish to speak about the steps to approach a strategic default. It is real easy how you do a strategic default in my opinion. Number one, I am not an attorney or an accountant, so if you’re going to contemplate a strategic default, you would possibly wish to communicate with an accountant or an attorney to see what the legal and tax ramifications could be.
In case you are a home-owner that can afford your mortgage payments and also you need to defend your credit, we’re right here to help. We are going to merely come in, list your home and present a suggestion to the bank. Then the financial institution will ask us for your financials and we will present them to the bank. The bank could ask questions on why you might be short selling when it seems to be like you may afford your mortgage payments. We reply those questions honestly with integrity and we allow them to know your intensions. If you will do a default, you principally inform them you’re either going to do that short sale or let your property go to foreclosures since you do not wish to stay in a house that’s $one hundred,000 to $200,000 upside down. Most of the time, the bank is going to determine it will make sense for them because they get more money for the short sale then if it goes to foreclosure.
So, you will continue to make funds, we go forward and complete the short sale and you’re done and put that debt behind you. There shall be a derogatory remark on your credit report. It will say one thing to the effect satisfied in full, short pay, and that does have a unfavourable impact in your credit score report. Should you remain current during that time, you may actually buy a home both simultaneous close or after you close your escrow on your short sale, there are loans in place where you can buy a downsized residence or house of lesser value. This is great news on the strategic default process.
Thank you for visiting the web site, ShortSaleSlayerz.com, we’re Roseville’s main short sale team. When you’ve got any questions, you possibly can reach out to me at my 800 number or simply leave a comment and check out our free download on short sales. Thanks and have a great day.
Do you need to sell you home or are you underwater and can’t make your mortgage payments? Jason Zweiglye and the Short Sale Slayerz can answer your short sale questions. We are California Short Sale Specialists.
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