Distressed Homeowners should know why Strategic Default is not the best option in California

June 20, 2012 - PRLog -- For California homeowners in distress over the thought of losing their home to foreclosure, walking away might seem like the only solution. “Many distressed homeowners in the San Fernando Valley have been getting bad advice when it comes to strategic default,” said Roger Horn,  a “Certified Distressed Property Expert” and California Real Estate Broker with Pinnacle Estate Properties in Calabasas, California.  “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,” Horn 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,” Horn said “because there are so many better options available to California 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), Horn says that he makes it a point to find the best possible solutions, not just for the moment, but for the individual homeowner’s future as well. “There are options for homeowners in California that can have a much lighter effect on their credit while also allowing them to walk away from an oppressive mortgage as well as remain free of deficiency judgment liens.”

Roger Horn developed a report exclusively for California homeowners entitled, “Escape your Unmanageable Mortgage”.  Anyone can access this report free of charge at www.CaShortSaleInformation.com.  If you or someone important to you is facing this kind of future, don't hesitate to gain power thorough knowledge today.