Recently, I’ve heard the term “strategic default” being used more frequently from homeowners in Long Beach, Lakewood and surrounding communities. It shouldn’t be a surprise. With more than 25 percent of homeowners now owing more than what their homes are worth and millions more having a hard time paying the mortgage, it’s becoming more common for homeowners to consider just letting their home go to foreclosure.
If you are having trouble paying the mortgage on your Long Beach home and you’re wondering what you should do, it’s important to get all the facts. You may wish to seek legal advice and tax advice. But before you stop making payments, consider all your options. There is nothing strategic about foreclosure, especially when there are solutions to avoid it. Among the other alternatives are loan modification, short sale, or deed in lieu of foreclosure.
The sooner you take this step, the more time you’ll have to act and move toward a more promising tomorrow. And remember, if you want to talk about your options, I’m happy to help. Call me today at 562-896-2456 for a confidential consultation or email [email protected]. I’ve counseled many homeowners who have successfully avoided foreclosure.