Strategic Default is not the best option for distressed homeowners in San Jose

April 27, 2012 - PRLog -- Strategic Default is not the best option for distressed homeowners in San Jose

San Jose, CA – April 27, 2012 – For homeowners in danger of losing their home, walking away might seem like an attractive solution. “Many distressed homeowners in San Jose have been getting bad advice when it comes to strategic default,” said Kate Davey, CDPE, Davey Real Estate. “It has become fashionable for some so-called experts to recommend defaulting on your mortgage as a method of dealing with pending foreclosure, but this is actually one of the worst options imaginable,” Davey added.

Strategic Default is a method that some homeowners who are in danger of losing their home to foreclosure choose to take. Rather than spending more money trying to save the home, they simply let the bank foreclose, take the credit hit and then walk away. “It is unfortunate,” said Davey, “because there are so many better options available to homeowners under the threat of foreclosure than this.”

While Strategic Default may provide immediate relief to the overwhelming feeling that the threat of foreclosure brings, it can have devastating effects on a homeowner’s future ability to find affordable housing.

As a Certified Distressed Property Expert (CDPE), Kate Davey says that she makes a point to find the best possible options not just for the present, but for the future as well. “There are options for homeowners in San Jose that can have a much lighter effect on a their credit while also allowing them to walk away from an oppressive mortgage.”

Kate Davey has developed a free report entitled, “Escape your Unmanageable Mortgage” that is accessible from her website, www.sanjoseforeclosurerelief.com.


About
Kate Davey
Davey Real Estate
4848 San Felipe Road #190
San Jose, CA 95135

For more information about the CDPE Designation, visit www.CDPE.com.