You Owe More on Your Orange County, CA Home than It’s Worth & You Don’t Know What to Do – Intro
What are today’s statistics for homeowner’s in trouble?
- Over 12% of people are not making their mortgage payments.
- 6 out of every 10 Orange County homes purchased in 2006 are upside down, meaning they owe more on their home loan than their house is worth*.
- For homes purchased in Orange County in 2007, the numbers drop slightly almost to 4 in 10*.
- Orange County median home values have dropped approximately 40% from their high just a few years ago.
Coupled with higher unemployment rates than have been seen since the Great Depression, the inability of many to refinance or sell their homes, it’s hardly surprising that there are many homeowners in trouble.
This series will educate home owners on what they can do if they owe more on their home than it’s worth, and they don’t know what to do.
Many homeowners who are unable to make their payments or refinance their mortgages don’t know what their options are Perhaps they are looking at a foreclosure, or perhaps they know that they may miss their first mortgage payments in just another month or two, or perhaps they are just making their payments, but they are concerned about what will happen if they have an unexpected expense that will prevent them from making a payment.
Perhaps you’ve heard the latest buzz words: “loan modification;” “short sale,” “Obama’s plan,” and you want to know if they apply to you.
We know what your options are when you owe more on your home than it’s worth and don’t know what to do, and we will share it with you over the next few weeks.
If you want to make sure not to miss any of this series, please subscribe to this blog to learn your options.
If you have questions in the meantime, please contact Christine Donovan at 714-319-9751 or e-mail Me!
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About the author: Christine Donovan is a California Residential Real Estate Broker with experience in assisting clients buy and sell residential real estate.
Are you upside down in your home? Do you owe more on your Orange County home than it’s worth, and you don’t know what to do? Are you concerned about making your mortgage payment? Contact me at christine@donovanblatt.com or 714-319-9751 to discuss your options.
Want to buy a home or to list your property for sale in Newport Beach, Costa Mesa, Huntington Beach or Orange County? Contact me at christine@donovanblatt.com or 714-319-9751 to learn about her system which will make your buying and selling experience easier.
Disclaimer: All information in this blog is deemed reliable but is subject to change at any time and is not guaranteed to be accurate nor are there any warantees either express or implied. This blog is not intended to offer any legal, tax or other advice.
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Copyright © 2009 by Christine Donovan, All Rights Reserved. You Owe More On Your Orange County, CA Home than It’s Worth, and You Don’t Know What to Do – Intro.
* According to Zillow.com.