Information, Agents, and Properties For Sale in City Terrace,CA
City Terrace is bounded by the city limits of Los Angeles on the north and west, Floral Drive on the south, and the city limits of Monterey Park on the east. Boyle Heights is on the west, Lincoln Heights is to the northwest, University Hills is to the north, California State University, Los Angeles is to the northeast, Monterey Park is to the east, and East Los Angeles is to the south. Major thoroughfares include City Terrace Drive, Eastern and Medford Avenues, and Herbert Street. The community is part of ZIP code 90063 and area code 323.
If you’re a current homeowner facing financial difficulty, it’s important to know that you’re not alone and you do have options. Right now, 1 out of every 7 homeowners in the U.S. is behind on their mortgage, and 50% of those who have a mortgage on their home currently owe more than their property is even worth!
While a loan modification may be a good short-term solution offered by some lenders, the reality is that only a small percentage of loan modifications end up getting approved, and most of them are only temporary. In addition, the majority of those modifications that actually do end up getting approved are usually done without any reduction in principal or debt forgiveness whatsoever. It could take years of making mortgage payments just to break even!
Many homeowners try to delay the inevitable, running their credit cards to the max, cashing out on retirement accounts, and borrowing money from friends and family members in a desperate effort just to keep their heads above water. This only makes matters worse, as we see happen all too often. When it comes down to it, true financial relief from a short sale is more often than not the best solution for those homeowners who are currently facing financial distress.
If you’re considering the possibility of a short sale, it’s important that you are well-informed and know all of the facts before making a decision. Many real estate agents claim to have the knowledge and experience necessary to work with short sales, but the truth is that the majority of agents do not know how to handle a short sale listing properly. Because of this, on average, less than 25% of all short sales actually end up getting approved! By far, the best course of action for homeowners in distress is to speak with a well-informed, licensed real estate professional. But in today’s volatile short sale market, you need to be sure that you’re working with an agent who has been trained and certified to work with short sale properties!Our company, JohnHart Real Estate, values real estate agents which will guide you through the whole process and help you to avoid foreclosure.Please contact us today.