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Posted by Brandon on February 22, 2007 at 10:13:58:
In Reply to: Deficiency Judgment in California? posted by Brandon on February 22, 2007 at 09:26:50:
Just another tidbit of info on my situation. I have thought about selling the home, but I cannot sell for more than I owe on the property. Ive also considered doing a short sale on the property, however the lenders told me that it was not an option yet, due to my income being so low or something of that sort. At this point it would just be easier to let it go. Any suggestions? Heres what is owed on the property: 432k on my first mortgage, and 105k on my second mortgage. My next door neighbor is selling his home somewhere in the low 500k, or by now it may be high 400's. There are two other houses up for sale basically a stones throw away from my house that have been listed for 2-3 months now with no signs of selling. Not really sure if I could short sale it quick enough.
