How do you you know when to walk away from a home, the #1 key thing ?

Asked by Steven Peffer, 93010 Mon Dec 1, 2008

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7
Barry Shapiro, Agent, Camarillo, CA
Mon Dec 1, 2008
Hello Steven,

I live and work in Camarillo 93010, and am here to assist you in making the right decision for your future. I have access to a Specialist that can help you with a Loan Modification, should you want to stay in your home. Also, I have a access to an enrolled agent that can assist you with the tax ramifications of your decision regarding your property in the Las Casitas tract. I recently leased my own rental property here in Camarillo to a neighboring seller (on Placita San Rufino) that lost their home to a foreclosure. Your equity position is still fairly substantial on your 2+2 home. I respectfully invite you to contact me to discuss which option(s) make the most sense in your particular situation. In the interim, here is a link from my website that will answer some of your questions: http://www.findcamarillohomes.com/custom22.aspx A quick Market Snapshot is included below to provide you with an idea of what your property's current value may be:
1 vote
Bill Eckler, Agent, Venice, FL
Sat Jan 31, 2009
Steven,
When it becomes a choice of buying food or pay the mortgage, when it is a choice to pay the mortgage of recieve medical treatment, when it becomes a choice of paying the oil bill in February or paying the mortgage.............when it becomes a choice of basic necessities or the mortgage payment and ther is no way out in sight.

Under no circumstances should you walk away without understanding the full consequences of doing so by consulting an attorney.
0 votes
Tracy Lu Gui…, Agent, Camarillo, CA
Sat Jan 31, 2009
Steven,

The #1 key thing is....gotta trust your gut. Either you can't afford it, or perhaps it just makes financial sense to walk away.
0 votes
Joyce Zangme…, Agent, Thousand Oaks, CA
Tue Jan 20, 2009
Steven,

It is not clear what you are referring to when you say 'walk away from a home.' Are you currently a homeowner? Or do you have an offer on a home to purchase? My answer would be quite different in each circumstance.
Web Reference:  http://www.805Local.com
0 votes
NonRealtor, , 23456
Tue Dec 2, 2008
If you can't afford it, eventually, you will be walking away. Good Luck
0 votes
Bill Eckler, Agent, Venice, FL
Mon Dec 1, 2008
Steven,

We are unclear on the intent of your question. Could you clarify this please?
0 votes
Dallas Texas, Agent, Dallas, TN
Mon Dec 1, 2008
Unconfirmed of your question. Do you own the home? If yes, then lender not willing to work a deal refinance or have a foreclosure payment outside of your monthly budget you wont have a choice however do you have equity, could consider a short sale, or attempt to sale the house therefore it does not impact your credit score.

IF you located a home purchase there is drama involved there are other homes listed on the market have your buyers agent continue to work with you locating another property.

http://www.lynn911.com http://www.homes-for-sale-dallas.com
Web Reference:  http://www.lynn911.com
0 votes
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