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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Facing foreclosure in San Diego Posted by JK (the other JK) on August 02, 2006 at 3:51 PM In Reply to: Re: Facing foreclosure in San Diego posted by Christian on August 02, 2006 at 3:07 PM : No signed lease, it was 100% financing, no downpayment. : when they got the loan in march purchase price was 520k, : the investor made one payment. May, June, and july have not been made : The nod gets recorded on aug 12th. : Property adress is 693 garfield ave el cajon ca 92020 ( vacant) Unfortunately for you we are going to start seeing more and more posts like this. Though I don't know much about El Cajon, I'm going to assume you are upside down on the house (you owe more than the property is worth). If that is the case, in my opinion, your best options would be to either dunk a tenant in it and hang on for the long term (which of course means making the payments and bringing it current) or go through a realtor who specializes in short sales. Both of these options are better than letting it go to foreclosure. Foreclosure truly is the "Kiss of death" on anyone's credit report. Follow Ups: Re: Facing foreclosure in San Diego NATHAN SECOR 6:18 PM, 08/02/06 (3) Re: Facing foreclosure in San Diego Ron_CA 6:52 PM, 08/03/06 (2) Re: Facing foreclosure in San Diego Buffett 3:51 PM, 08/09/06 (1) Re: Facing foreclosure in San Diego Smarter than Buffett 5:36 AM, 08/13/06 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : No signed lease, it was 100% financing, no downpayment. : : when they got the loan in march purchase price was 520k, : : the investor made one payment. May, June, and july have not been made : : The nod gets recorded on aug 12th. : : Property adress is 693 garfield ave el cajon ca 92020 ( vacant) : Unfortunately for you we are going to start seeing more and more posts like this. Though I don't know much about El Cajon, I'm going to assume you are upside down on the house (you owe more than the property is worth). If that is the case, in my opinion, your best options would be to either dunk a tenant in it and hang on for the long term (which of course means making the payments and bringing it current) or go through a realtor who specializes in short sales. Both of these options are better than letting it go to foreclosure. Foreclosure truly is the "Kiss of death" on anyone's credit report. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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