Orange County Short Sale Agents offering information and assistance to help alleviate financial stress. You must remember, we’ve all had our ups and downs in life and a lot of other good people are also in the same tough spot as you. Life seems scary when you’re facing the reality of foreclosure and we know how you feel when you just don’t want answer the phone any more. Here in Orange County, many home owners have found themselves in a position where they are having trouble keeping up with their payments and the mortgage on their home is greater than the value of their home. Unfortunately, many homeowners give up because they think there is nothing they can do to stop the Foreclosure of the home. But there is something that can be done, a Short Sale.

A mortgage deficiency is the difference between the loan amount owed by the borrower and the purchase price of the short sale paid to the lender. In some states and some instances homeowners are protected and lenders can’t pursue them for the deficiency. However, in some cases a short sale can leave you owing a substantial debt, which can be collected by garnishing your wages or other aggressive collection actions. As your Orange County short sale agent, we will work hard to get your deficiency waved, if applicable, as a condition of the short sale. We highly recommend talking to an attorney to discuss mortgage deficiency and how it may or may not apply to your situation.

Can I simply deed my property to someone else and avoid foreclosure that way?
No. Be wary! If you fall behind on your mortgage payments you will quickly find yourself drowning in mail and phone calls from different people promising to “save” you. But deeding your property to someone else without first paying off the loan(s) is almost always a bad idea. Even if you deed the property to someone else you are still responsible for the loan payments. If the loan payments are not made, it is your credit that is affected (regardless of who holds the deed). In other words, you lose control of the property and can still be foreclosed on. What ever you decide, do NOT deed your property to someone without first paying off the loan unless you have consulted with your OWN personal attorney. Please contact us for Orange County short sale information.

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