Are you considering a Short Sale or Foreclosure?

Are you upside down in your home? Do you have a hardship that makes it impossible for you to continue to make your mortgage payment? Are you considering doing a Short Sale or a Foreclosure? Before you decide to short sell your home or let the bank Foreclose on your home, find out about your options!

There are other options than Short Sales and Foreclosures:

Short Sales are not always the answer. If you are having difficulties with your mortgage, visit this site first: Making Home Affordable. It is a government website that will try to help you modify your loan or renegotiate with your lender.

The next step is to call your lender and to tell them you are having trouble! Many lenders today are trying everything they can to work with you. Call them and see if they are able to work out some terms with you. When dealing with any kind of lender or contract, it is always very important to fully understand your rights. Consult your attorney, tax consultant, and acccountant individually and separately to make sure you are fully aware of all ramifications of your actions.

If you are unable to receive governmental assistance or to renegotiate your loan with your lender, then you may want to consider a short sale of your property. A short sale is a time intensive process, requiring a lot of documentation and preparatory work. In order to have a chance of completing a short sale, you should hire a professional Real Estate agent that is familiar with the requirements of a Short Sale packet. If you are interviewing an agent, make sure to ask them about this critical step! If an agent does not know how to do a Short Sale packet, your sale could take much longer or could not be approved at all. If you would like to talk to us about what it takes to do a Short Sale, call us at (239)595-9020. We will gladly go through the details of a short sale with you.

Foreclosure, or "Walking Away"

Foreclosures have a lasting, damaging effect on your credit score. The average foreclosure can take over 100 points off of your score, and leave you unable to finance another piece of property for up to 7 years. "Walking Away" or doing nothing is one of the most damaging things you can do, unless you have been specifically instructed to do so by an attorney. Before foreclosing on your home, please consult a legal professional and educate yourself about the impact that this action will have.

Call Us to find out if we can help you

We understand that you are going through a tough time, and sincerely want to help you. If you would like for someone to come and talk to you about your home, call us today at (239)595-9020 and get answers.