Short Sale in Vancouver WA Area, Clark County What should I do?

Short Sale in Vancouver WA Area, Clark County What should I do? What a great Question, with 70% of the foreclosed properties and were never listed, that tells me that people just do not know their options.... Well let's be blunt, honest and to the point.....  Short sales right now make up about 20%-30% of the market and bank owned properties are about 5%-12% of the market, and there are foreclosed homes that have not hit the market yet.
 
So If I can not make my payments on my house what do I do? (several items for you)
Reinstatement of your loan:  Here you would just pay the bank what is owed and get your loan caught up and not behind in payments any longer.  For a lot of people this is the hardest one because if you can make your payments where will you come up with that amount of money?  
Forbearance or Repayment Plan:  This will allow you to make payments on what you owne and you would also need to make your monthly payment as well.
Loan Modification:  This is a way to get you restarted, personally I did this and it took us a year to complete it.  You can do it on your own or pay a company to help you (check with you state requirements).  Please understand it will take time to complete and you need to do what they ask. Also, there is no guarantee that they will lower your payment I am helping several people that their loan mod came back with a higher payment, and that did not help.... Also, keep in mind that only 25% of all loan modification applicants get approved and from that it is said that 70% end up in default again.
Deed in Lieu of  Foreclosure:  This is a possible option for some people, the home needs to be listed for this to occur and the attempt to sell must be shown, also the home must be vacated.  The first position loan will take a settlement and the second you will need to negotiate settlement with at some time (need to check local laws)
Bankruptcy: This is considered as a foreclosure on the property and you will need to carry this on your credit for more than 7 years you need to seek the advise of an attorney.
Foreclosure:  Is an option, however you loose the control of your home, and allow the bank to sell the property, they are only concerned about the first loan and the second will come to you for settlement.
Short Sale:  This allows us to have control as humans we want control and we do not want to give it up. A Short Sale allows you to negotiate with the first (at times the first is released the debt, check your state) and the second also gets negotiated as well,  (and any other Liens on the Property), The Point is is that YOU WILL KNOW what the contract is and the settlements are, then you can accept the arrangements or reject the arrangements, it is your choice.

Ken's Home Team has been able to negotiate all the parties for you and have been able to make acceptable arrangements for out Short Sale Clients here in Vancouver, WA, Clark County WA. give us a call 360.609.0226 or email us at Ken@VancouverWAhousesforsale.com and let us help you, we can sit down and go over this in more detail with you and your situation.  I hope this answers some of your questions on Short Sale in Vancouver WA Area, Clark County What should I do?