5 Reasons To Avoid Foreclosure

1. The homeowner will always have to disclose they have had a foreclosure on any mortgage application and many job applications.

2. May impact your credit report negatively up to or greater than 300 points (affecting ability to get a car, apartment, credit cards, etc!)

3. A foreclosure is the one credit report item that is almost
 impossible to have "repaired".

4. Military and government security clearance could be at risk with foreclosure.

5. Many employers run credit checks on prospective employees and
foreclosure is one of the top items that could put a potential new hire jeopardy.

We Can Help!

There are countless hardships that can turn home ownership from a joy into a burden.  The loss of a job, medical bills, or an unexpected hike in monthly payments can all make a mortgage unaffordable.  But ignoring the bills will not make them go away, it will only make things worse.

If you need help, there are approaches that can help, but you may not be familiar with them.  One of these is a “short sale.”

In an approved short sale, the lender agrees to accept less than is owed for the property, and the homeowner is relieved of the debt.  A lender may be willing to do this because it spares a lot of hassle and expense involved in executing a foreclosure.  And typically, a short sale does far less damage to the homeowner’s credit than a foreclosure does.

If you would like to explore the possibility of a short sale for your property, avoid foreclosure, and potentially save your credit rating, please complete the form below.