I have been meeting with alot of people these days, discussing their options with their home being underwater... I hear many of them indicating that they are speaking to attorneys who say the risk is to great to short sale and that they should just walk away from their home. I just can't beleive that!
With shortselling your home, I (being the realtor) will take all the calls from the lender wanting their payment and do an Agent visual assesment of the home. while I am not a home inpsector, should anything be of a major health and safety issue i will put that in my package to the bank. Other than that the home is being sold as is. when we fully disclose everything up front no risk goes back to the seller who is not profitting from the sale. At the end of this year the tax protections will go away, unless congress does something like extend them...
As of today in California two senate bills exist that help homeowners get out from under an upside down situation with no recourse, SB 931 for first mortgages and SB 458 for 2nd. mortgages...
Now is the best time to protect your credit and move on with your life....Call me for more information on your situation. 951-712-6074
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