Most homeowners in Temecula, Murrieta and other portions of Riverside and San Diego Counties who are facing foreclosure are confronted with, perhaps, the most difficult decision in their life so far.
Stop Foreclosure Temecula - Save your home
Their home may be worth 50% of what they owe, they’ve suffered a financial hardship that makes them unable to keep up the payments, so getting rid of the debt seems like the best solution.
A fresh start?
Maybe not
Former homeowners may still be on the hook if there’s a difference between what they owed on their mortgage and what the bank could sell it for at auction. And these “deficiency judgments” are ticking time bombs that can explode years after borrowers lose their homes.
By Les Christie, staff writerFebruary 3, 2010: 3:21 PM ET
NEW YORK (CNNMoney.com) — As terrible as it is to lose your house to foreclosure, at least it’s a relief to put your biggest financial headache behind you, right?
Wrong.
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Tags: Help for Homeowners, help for homeowners in trouble, stop foreclosure, Temecula Real Estate Market
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