According to mortgage lenders, in the future, losing a home due to illness or a job loss will be seen differently than choosing to stop making payments on a mortgage even though you have the financial ability to make the payments. In other words, it will work against you if you make a strategic decision to default on paying your mortgage on your Campbell CA home. Most likely, it will be seven or eight years before “walkaways” can finance a purchase of a home for sale in Campbell CA.
For more implications with a strategic default, please consult a lawyer and a CPA.
There is a lot of free information available to you about buying, selling or investing in Campbell CA real estate. To obtain more details regarding the Campbell CA real estate market including current homes for sale, property values and more, please visit Campbell CA Homes at http://www.livingincampbell.com. Or please feel free to contact me with any of your real estate or mortgage questions and I will be more than glad to answer your questions. Call me direct at (408) 410-5628 or e-mail me at trang@BKRrealty.net. I look forward to talking with you!
Trang Beuschlein, Real Estate Broker
DRE License #01453711