best alternative other than short sale in pre-foreclosure?

Foreclosures, Short Sales, Tax Foreclosures
1

Hello there, this is Ritch and newbie to this forum. I’m living in LA and I’m in pre-foreclosure stage. Are there any good options for me other than entering in a short sale in order to pay off outstanding debts? Or is it the best alternative as yet?

2

It all depends on what your specific situation is. If LA means Los Angeles, I can see what options you have. It really depends on what is your hardship and why you can’t make your payments. There are free government resources that can help.

3

Hmm, thank you for your suggestion… you’re right, maybe that’s one alternative but still, I know it won’t be sufficient to cover all my obligations :banghead

4

I responded on short sale superstars as well. Here was my reply:
No one can answer your question without knowing the specifics of your issue. How much credit card debt do you own? how many loans on your home do you have? What are the amounts? How much is the property worth? Is it cheaper to rent? Do you even want to rent? What made you fall behind? Is your hardship temporary? etc…

If LA is Los Angeles, let me know and I can run the numbers and see what you can do.

5

hi Satarnag, yeah, I saw your response… thank you… hmm,maybe I can’t discuss here all what I have gone through, :anon it’s quite personal… my friend suggested me to look for a real state agent to help me with this… I think that would be more appropriate for me… Wat do you think? Thanks for the help anyways… I appreciate it… (bow)

6
hmm,maybe I can't discuss here all what I have gone through, anon it's quite personal.. my friend suggested me to look for a real state agent to help me with this.. I think that would be more appropriate for me.. Wat do you think? Thanks for the help anyways.. I appreciate it..

The Forum members would be glad to provide you with options. However, asking for help and not providing pertinent details is like going to the doctor and just telling them that you don’t feel good.

Good luck! :beer

7

thanks for your responses… I’ve found that cutting the mortgage by up to 50 % and walk away from selling fast…is one of the best option to save your property from foreclosure… Do you have some list or ideas on different ways on how to cut mortgage by 50 %?

Apology from being inquisitive, I really need to know how…

Thanks

8

Well, I do a hold a real estate broker’s license in California. I have real estate agents that work for me. I am very experienced in all aspects of real estate investing and options to keep your home. Like I said, I need to understand your particular situation first before I can see what options you have.

9

Without knowing your situation it is impossible to tell you solution. I don’t want to demoralize you but in most of the cases short sale is the last and only solution.

10

If you are in pre-foreclosure it is best let a real estate do a short sale.