Monday, May 24, 2010

What is a Strategic Default?

With all of the discouragement and financial hardship, it’s really easy to just throw in the towel. Walking away from your home isn’t the answer.


I have seen families walk away from their home thinking that would be so much easier, but it really just makes things worse. Walking from your home and moving out to let it sit will put you in a position of devastation and heart break. By planning what is called a “strategic default”, you could ruin your credit for years, and eliminate the possibility of homeownership.

A strategic default will have the same affect on you that a foreclosure will, but it happens a little bit differently. The strategic default is when someone is planning to just walk away and they allow this to happen. They knowingly move out and let everything go.

A foreclosure happens when someone has been struck by hardship whether it’s a job loss, high medical expenses, or even a divorce. No matter what has happened to you there are options.

For more information go to www.inlandempireshortsaleresource.com, or call me at (310) 498-2700.

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