Three Short Sale Facts Portola Hills Residents Should Consider
We often here these days in the local news that Portola Hills is the hottest Real Estate market in Orange County, unfortunately that does come with some sad news as the percentage of homes in distressed situations is also one of the highest in the county. Below are four quick facts and solutions you should think about if you are considering getting out from your current home. Fact: Loan Modifications are hard to come by and if they do, it is rare to receive true Principle Reductions, which is what is needed. Principle Forbearance is more likely than a Principle Reduction. Fact: A Quarter of all mortgage holders in Southern California owe more on their mortgage than their property is worth. Fact: Foreclosure is more damaging to your credit and future employment. Solution - A Short sale will accomplish three things for you . 1st: Allow you to take some control back in your life. Stop with the frustrating calls to your lender with no answers. 2nd: Give you a fr