We visited with several home owners this past week who owe more on their homes than they are worth. The #1 question for all of them has been “what are my options”?

To effectively evaluate this question there are many variables that must be identified and discussed. Whether or not you actually want to stay in your home is a very important question. Some families have out grown their current home and always thought they would be able to sell it and move up when the time came. Trying to save it now may seem counter productive to their long term hopes and dreams. If they truly are experiencing financial hardship that is affecting their ability to pay their mortgage, a short sale is a way out.

Others desperately want to keep their homes and there are several possible options to help in this case as well. These include things like forbearance and loan modification, with the most hoped for option being loan modification. We can help you determine what your chances are to accomplish this and give you some direction to proceed. Unfortunately for many, their financial hardship and the degree of modification they would require, does not bode well for this being a viable option.

There is no magic formula or one size fits all solution when it comes to evaluating the many options for distressed homeowners. If you are a distressed homeowner in Huntington Beach or any of the surrounding southland communities, we are here to help you determine what the best option is for you. We also encourage you to check out some of our other blogs and videos on this subject.