Short Sales in Orange County Protected From Debt Collectors

With the current state of financial system and property owners facing monetary troubles

, short sale became more and more common amongst Orange County houses. Utilizing short sale in lieu of foreclosure in OC implies it lessens the detrimental effect on your credit rating - which has got to become an excellent point. The other good news relates to the Mortgage Foregiveness Act of 2007.

"The Mortgage Forgiveness Act of 2007, has been extended to 2010, protects OC real estate property owners from debt collectors in search of monies owed beyond the sales price of primary residences"

Rather than walking away from a unfavorable asset or losing your house to a financial institution foreclosure, short sale will have a less severe impact on your credit history, and more importantly we are able to re-qualify for household loans much sooner.

Proper-T-Solutions.com

* Loan modification Vs Short Sale in California. Which is the best way to stop foreclosure in CA?

* Short Sale differs from Loan Modification in that it addresses the collapse in property values in California.

* Knowledge of Short Sale Law & practice in California and Loan Modification California Law is crucial to your success.

Short Sale Vs foreclosure in California

-How do you stop foreclosure in California? It's the question for thousands of Californians facing foreclosure. While loan modification or refinance may be the obvious answer, Short Sale deals with the real problem if your loan is greater than your house value.

Visit my website to provide you more information and free referral services for distressed homeowners.

Short Sales in Orange County Protected From Debt Collectors

By: Michael Hanks

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