If you missed the article in the New York times on strategic defaults for California homeowners, then here’s some additional information I hope you’ll think over.
What is a strategic default?
This relatively new term is used for current homeowners who owe more on their homes than the current value of that home, and who make a decision to walk away from their mortgage payments even though they can afford to make those payments.
Defaulting is wrong, right?
My job as a professional Realtor is to be transparent, a word that means I should share with you all the facts, hiding nothing, and educating you as much as possible as to the reasons for any aspect related to buying or selling a home.
What is wrong or right about a strategic default is not knowing your rights, not knowing the ramifications, not knowing your options, and certainly not knowing or working your way through how you feel about the default.
Give me a call. Let’s talk. Every step you take in life is strategic, and deciding how to best cope with a difficult real estate financial decision is something I can help with. My role is to educate you about real estate, and in so doing, give you information you can perhaps take to your lawyer or CPA to make a final decision about a course of action. It starts with being open to being as educated and informed as possible. Call Us Now.