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October 24, 2010

Foreclosure avoidance in La Jolla?
Nobody wants to lose their home and foreclosure can be both financially and emotionally costly. While not thought of in affluent areas, foreclosure has become a more frequent problem in all communities. The more upscale San Diego communities along the coastal areas of La Jolla, Del Mar, Solana Beach, Point Loma, Encinitas and Carlsbad have not been immune from the devastation that foreclosure can bring.

Looking for solutions to these emotional and financial problems can feel like a lonely walk without trusted help. There is also a fear that a home owner is vulnerable and therefore may be taken advantage of. Some loan modification companies are often seen as a waste of time and money (97% of loan Modifications fail), and can be a frustration when they don't produce the desired result. Some companies charge an exorbitant fee to file the paperwork, while homeowners can file the necessary documents for themselves for "Loan Modification".

Each home and each foreclosure is unique and each personal situation is different, so consulting with a trusted professional can often be helpful and comforting when sorting out optional solutions. One option to foreclosure may be loan modification another may be a "short sale" to avoid a foreclosure. Sometimes just discussing the differences and the outcomes between; foreclosure, loan modification, and short sale can be a helpful first step.

Ruth Mills is a (CDPE) Certified Distressed Property Expert, with helpful options to foreclosure and a tool kit for those looking for solutions to mortgage troubles.

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