Saturday, July 30, 2011

Short sale or foreclosure?

Short sale or foreclosure?
Sometimes it's not that clear...
Know your options!

Review your options and then decide - Can you afford to stay in your home making the payments on the mortgage and all the other expenses you have? Consider if a comparable home can be rented for less than you pay now and remember renting will not have the added costs of taxes, HOA fees, maintenance, insurances etc . etc. In MOST cases - you can rent a home for FAR LESS than what it will cost you to stay in the property. Even if the economy recovers quickly and the markets start to see value increases, your home's value may take 4, 6 even 10 years before you have equity again. Can you carry that expense and burden for YEARS just to get even? Do you want to? If you are faced with economic hardship, ill health, excessive debt or just tired of the struggle to stay afloat a Short Sale may be your answer. Let me help you personalize this decision with a NO OBLIGATION analysis of your situation and you can then make an informed decision if this might be right for you.

Prudential California Realty
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