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San Diego Foreclosure Attorney Discusses Expected Drop in San Diego Home Prices
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Housing Prices Expected to Drop In San Diego

San Diego Foreclosure Attorney

According to Signonsandiego, housing prices in San Diego are expected to fall after 13 month increase in prices.  And the drop is expected to be significant – 9.6% for the first quarter of 2011.  That is way above the projected national average dip of 4.9%.

One of the big problems?  Foreclosures are still expected to be a drain on the housing market.

Another big problem is that the homebuyer tax credit artificially inflated sales over the last year, according to the article.

Perhaps most importantly, loan modifications are not working and have about run their course.

What does this all mean.  Well is you have cash in the bank, it means that it may be a good time to buy.

But if you are struggling to hold on to your home through a loan modification or trying to short sell your home, things could get worse.  With prices falling, banks willing to allow a short sale may pull back from doing that.

So what are your options?  Of course it depends on your situation.  But if you are upside down on your first loan, you might be able to get rid of your second loan through a San Diego Chapter 13 Bankruptcy.

If you are trying a short sale, be sure to talk to an experienced San Diego Short Sale Attorney.  As we have discussed before. most people are not doing this and getting hit with an unsecured loan from the second.  You can avoid this!

Another option, is to continue holding on through the long downturn.

If you want to discuss your particular options, our San Diego Foreclosure Attorneys are here to help you.

The Attorneys at the Law Office of Harold D. Thompson are San Diego Real Estate and Bankruptcy Lawyers dedicated to helping with all of your real estate issues – including helping you save your home through bankruptcy.  Call us TODAY at 619.615.0767 or visit one of our websites at www.ThompsonLawSD.comorhttp://www.sandiegobankruptcylawyerblog.com/for more information.

Related posts:

  1. Beware of the Deficiency Judgment after a Short Sale in San Diego
  2. Is Bankruptcy After a San Diego Short Sale Going to Be Common?
  3. San Diego Housing Market Predicted to be 1 of 10 Worst as Home Sales and Home Prices Continue to Fall
  4. Bankruptcy Can Help You Catch Up On Missed Mortgage Payments After A Failed Loan Modification!
  5. San Diego Home Prices Are Rising – Get Rid of Your Second Mortgage While You Still Can

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