Foreclosures can be costly in the long run!  We had a discussion recently with a home owner who had decided to let his home go into foreclosure.  We asked why he did not consider one on the multiple other options that are available in this market place.  He said, it was easier just to let it go. We then asked what was the majority issue to push him toward letting the home go.  His answer was loss of equity.  His home was worth 40% less then when he purchased it 3.5 years ago here in Oakland and he did not think it would ever catch up with his debt, especially if you factored in all the payments made on the home at a now defunct property value.  We then when into a quite lengthy discussion regarding what happens (or can happen) after a foreclosure, and all the other options that he may have chosen to pursue.  The options we discussed included Loan Modifications, Loan Modifications via a Forensic Loan Audit, Companies that will actually negotiate Principle Balance Reductions on the the property debt, and Short Sales.  By the time we were done with the discussion, he confessed that he wished he had run into us before now.  He said he would have chosen a different option.  If you know of anyone struggling with a home and how to proceed with it, please refer them to us for a zero obligation discussion of their personal situation.  It is always confidential and we hope we can be of service.