Before you are thinking in Modifying or Short Selling your home please ask your self the following questions.
1. Am I going to be in a Hardship? (By that I mean some of the following:
losing your job, divorce, having to support a family member due to illness, etc...).
2. Can you afford the payments at this time?
3. Is your mortgage changing to a higher amount or rate?
4. How is your Work situation, it looks like they are laying people off?
5. How about your wife/husband or significant other, are you counting on her income?
6. Is He/She going to be in any of the situations mention above?
If you answer No to all the questions then just keep your home, you don't really need to sell it.
Is not Just like when you buy a brand new car and in a year or 2 you feel like selling it because now the car is cheaper?
You need to consider are you living at the property, do you like the neighborhood ?
The market went down sure but not like the cars the market will go up again and we all be looking at this situation as something to learn from. When will this happen not sure, but your mortgage is for a minimum of 15 years correct?
The car payments are for as long as 5 yrs, and even when you take it out of the lot it has already depreciated.
Your house is an investment for the future, do you want to pay someone else's mortgage? if you don't have to why do it.
Trust me I would not mind taking the listing and helping you out to short sale your home . Only if there is a need and you answer yes to any of the questions I asked, then give me a call.
Going into a Modification or a short sale not having real reason other than my house cost less than what I paid for ? it will be a bit hard to stick with the banks.
I rather be open and frank with you than in the middle of the transaction you realize that the things that are happening are not really what you needed to do and that you would've been better off riding the wave of the low market and then keeping your home.
Unless as I said before you really need to sell it and are ready to do so.
Call me with any questions 619-869-0588
or e-mail me email@example.com