California Foreclosed Homes For Sale
April 30th, 2010
California Foreclosed Homes For Sale
Question: Foreclosing on a Home In California with a First and a Line of Credit?
I have a First and a Heloc from a Credit Union. My house has been on the market for nearly a year with no action. I am selling at a fair price that will cover paying off the loans and the Real-Estate fees. If I choose to foreclose on the home, what are the ramifications regarding the 2 loans. Will I be liable for any damages to the credit union? If I do a short sale do both lenders have to agree or just one? How long will it take to recover (credit wise) from a foreclosure vs. a short sale?
Answer: The short sale will have less of an impact then a foreclosure, but both are about 7 years.
Yes, both lenders have to agree on a short sale, you will screw both, so both have a say.
SOUTHERN CALIFORNIA FORECLOSURE TRUSTEE SALE.wmv
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Tags: ca, california, California Homes, Flickr, Foreclosed Homes, home, homes, Homes For Sale, Homes Sale, realestate, Youtube
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