Western World
Real Estate Services
445 N. Garey Ave. Suite 6
Pomona, CA 91767
ph: 909-622-4805
fax: 909-494-7869
info
Services
Consider a short sale when foreclosure seems inevitable
A short sale is a popular option for homeowners mired down with financial problems. In this case, you would sell your home for less than what you owe your lender; the biggest problem you will face is getting your lender to agree to a short sale. In many situations, they will not. Experts advise pursuing this option the minute you realize that you are falling behind in your payments and most likely won’t be able to catch up. The longer you wait and the greater the amount you are in arrears, the less likely it becomes that your lender will even be willing to discuss a short sale.
Of all available options, foreclosure is the worst
The inevitable result of a foreclosure is the lender taking your house. Not only will you lose your house, but the lender can get a judgment against you for the arrearages you owe plus his costs for the foreclosure action. If that isn’t enough, your credit report will be in terminal condition for many years to come, worsening an already bad financial situation and making it very difficult to obtain any other kind of credit. There is no upside to foreclosure. It should be avoided at all costs.
"Western World was able to help me stay in my home for 3 months more than the bank wanted me to stay"
Copyright 2010 Western World Real Estate. All rights reserved.
445 N. Garey Ave. Suite 6
Pomona, CA 91767
ph: 909-622-4805
fax: 909-494-7869
info
