ShortSaleTeam's Q&A

Our Office is located in Anaheim HillsGetAShortSale.com

Having no money for closing cost is common place for people in need of a short sale. Short sales are not drastic anymore. Sadly they are now becoming common place.As far as what to do if you can't afford your home anymore...There are a few available options:1. Loan Modification option (must qualify for the Loan Modification). This is where your Lender will change the terms of your loan to allow you to keep your home2. Short Sale option (Also must qualify for this) Most people qualify for this if they are having trouble keeping up with paying their bills.3. Deed in Lieu- (I might suggest other options than this)4. Refi - (Actually refinancing with another lender)In regards to your 401k...The bank cannot come after your 401k if you do a short sale. As far as not having money for closing cost, it is not a problem at all. The bank will pay for them including Realtor fees.Credit depends a lot on your individual circumstances. Do you have late payments? How many? I find that people with no late payments or only a few can recover from short sales fairly quickly.If you want to know more details on your specific situation please contact us. We are Local in Orange County. We have 26 years experience and we only do short sales in our business. We will be happy to point you in the right direction

Jennifer, Please feel free to give me a call.  I have an office in Long Beach on Pacific Coast Hwy. and I will be happy to give you a detailed market analysis on the property in person or over the phone.  I need to ask a few questions regarding your property.  Thank you.Blaine Loudenback 714-281-1146