What is a “Walk Away Plan”?

A “WALKING AWAY” plan is a comprehensive strategy for homeowners who can no longer afford their mortgage and cannot sell or refinance the property in a traditional manner due to negative equity.

The idea of "strategic default" -- walking away from your mortgage -- begins with a basic calculation: is the amount you owe on your mortgage more than the amount your house is worth?

To figure out what your home is worth now -- an inherently imprecise exercise -- the size, condition and location of the house are all important. You can try and estimate it yourself using specifications from the old mortgage and recent sales in the area with zillow.com, called a "Zestimate.".

If the new amount is less than what you agreed to pay, you're "under water." That means renting a comparable home makes economic sense if the monthly rental payment is less than the current mortgage. Check your area listings.

But before you walk away, make sure you're on sound legal footing.


What can I expect from your services?

Provide you with a foreclosure timeline, so you will know how long you can stay in your home.

Provide you with strategy which maximizes the full force of the law to protect you from having to pay the lender another dollar.

Provide you with a workout strategy designed to protect you from a deficiency. We can also work with you to design a plan to minimize the damage to your credit and get you back on a plan to restore your credit.

We advise you on recent state and federal loan forgiveness law.

We will discuss the benefits of pursuing lender liability claims.

We have a bankruptcy attorney on staff who can advise you on your legal rights and options should you desire.

All of the above is FREE.

For a free complementary consultation with our Attorney Contact us Today! 

1912 F St | Ste 110
Sacramento, Ca 95811
Phone: 916 442 6400
This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Share this post