We are hearing quite often these days about homeowners that purchased option ARMs or Alt-A financing.  They are ending up as part of a wave of ARM loans that are adjusting. The sellers know they won’t be able to make the new adjustable rate payment.  They are often scrambling to try to call the bank and figure out some options.  Other sellers are doing what’s now becoming popular and known as a strategic default.  This is where the seller decides it’s in their best interest to start the short sale  even when they aren’t yet behind on payments. Please give us a call and see what’s best for your situation. If your payment is too much or will be, please give us a call.

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