Should I Surrender My Home???

Whether you owe more than your home is worth or you can no longer afford the payments, surrendering a home can be a great decision. However, there are some very important things to consider when surrendering your home, that go beyond dollars and cents. Your home should be a place where you find safety, security and serenity. Your home should not be a source of anxiety for you. Take the following into consideration:

1) The surrender of your home may allow you the freedom to move to a better location, better neighborhood, a better city with better employment opportunities or to move closer to family and friends, for a better support system.

2) The surrender of your home may provide you the opportunity to build a savings during the time period you stop making payments. That savings could be used to assist you in your move.

3) Surrendering a home or strategic foreclosure should be considered a business decision. You are the CEO of your family. In order for your family “business” to survive financially, you must make difficult decisions at times. When you are paying twice the amount necessary on a property that is upside-down in loan-to-value ratio, you are throwing good money down the drain and you are not building equity. Hence, you become a high paying renter.

4) Lower housing costs can provide immediate relief. Your health is far too important to spend sleepless nights trying to find a way out of a terrible real estate market. You have options.

Start the new year off right! We can develop a plan to get you back on the right track and eliminate the unnecessary stress and worry. Contact US for a free consultation. Jenny L. Doling, Esq. at 760-412-5700. I’m a Certified Bankruptcy Specialist representing clients throughout Southern California.

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