Do Nothing and Foreclose on your Downey Home
Unfortunately this is still an option for you and many families are doing just that. While waiting for the sheriff to come and get may have a “me-against-the-world” glory feeling to it this is the absolute worst thing you can choose.
For starters, you will not be able to purchase another home in Downey or anywhere else for at least 7 years. If you have any dreams of owning another home, especially another beautiful home in Downey, you will have to wait at least 7 years after you foreclose. That’s almost a decade before you buy another home!
Additionally if your Downey Real Estate goes all the way to foreclosure it will stay in your record for 10 years. This will affect your ability to borrow money, auto loans, credit cards not to even mention buy another home in Downey.
Go back to: Behind in Payments on your Downey Home?
Go to Option 2: Forebearance or Loan Modification on your Downey Home
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