Looking for thoughts on what I heard from youwalkaway.com [YWA, my abbreviation].
Looking to unload our SoCal home that lost 40+% value in 3 years.
Tried to short sale, rejected because we are still current on payments.
Called YWA today to check those options.
We are a one mortgage holder with no financial hardship. We have already left the property and are committed to unloading it. We hoped to do so without going the foreclosure route.
YWA told me that short sale could be potentially worse than DIL foreclosure since they could build recourse into the short sale agreement.
Is this true?
Everything I've learned about short sale vs. foreclosure process in the last few days is illogical and has my head spinning for some reasonable linear thinking.
As always, thought, comments and advice are appreciated in advance.