Save Your Home
Antelope Valley Decline in Value
Lancaster : 38%
Palmdale : 42%
(As published in the Los Angles Times, June 17, 2008)

Long-term Goal
● Reduce Principal Amount through Loan Modification
Steps
1- Apply for your Decline in Value Reassessment with the
Los Angles County Assessor's Office using form number
RP-87

2- Multiply your loan payoff amount with the present
decline in market value of your property zip code
(e.g. 40% - 60%)
example: $300,000 - your loan amount
x .40 - decline in value
_______________
$120,000 – subtract this to your loan amount
= $180,000 – your opinion of present value

3- When the County Assessor sends back your new
Property Tax Assessment Value, Use this report to
negotiate your loan modification with your bank.
* Remember you are trying to lower your principal
amount not your rate or term. At this point, we all owe
more than our house is worth and it does not make
sense to make payments on a mortgage especially with
an increase of fuel, food, utilities and general cost of
living. Finally, we also have to contend with possible
employment loss, frozen retirement benefits and overall
economic hardships.

Strengths and Advantages
Suitable and sustainable mortgage
Long term financial security
Loss prevention