Well, after you short sell your home, you need to find a place to live. Most of the time, your credit is already messed up because of your mortgage / credit late payments. So what does it usually take to convince your new landlord you can pay your rent on time? If you have a solid job, good income ( meaning your income is at least 3 x your rent), and prepared to put an extra deposit, and or pay a few months in advance, you should be okay. Now the hard part is finding that deposit money, figure your regular mortgage payment was $2,500/mo, and you stopped paying for over 3 months now. You should have already saved that money somewhere else cause you knew you would have to rent a property. But if you haven't, start now. Start saving because if you move from your current home to something just like it, you will probably save about 800-1000 on your monthly out go. It may be even better to move into something smaller like a 3 Bedroom 2 Bath home, save money and rebuild your life. Don't over extend yourself after you short sale your property. The last thing you want to do is get evicted, then what are you going to do? Knock on your relatives door? Good look with that.
Welcome to the mygpsagent.com first blog post. We are excited about our new website and look forward to helping those who want to buy or sell property in Solano County. Currently, there are a number of you who have defaulted on your mortgage. Maybe you are waiting for a loan mod or are in middle of "trial" payments. Take this time out and think of a long term solution. You will still owe the bank double than what your home is worth today. I know maybe you put a large down payment, or have done some improvements to the home. Consider a short sale..if you are interested in a short sale, feel free to contact us anytime.