You do not have to be late on your home loan to start the discussion with your lender. Actually, I would recommend that you start the conversation when you are current on your home loan. Have all you documentation ready, assets, income, and your hardship letter.
Talk to people that have gone through the process and don’t take the first offer the Bank makes if it’s just a band aid. Make sure it will help you and your family through the time period you need.
Statistics in Walnut Creek show that only 15% of the homes on the market are vacant. This means that homeowners are succeeding in stay in theirhomes and making the payments. The Walnut Creek real estate market looks like it is improving. It will be very interesting to see what 2011 brings. Stay tuned.