Avoiding Foreclosure
As a Certified Distressed Property Expert (CDPE) I have completed extensive training in foreclosure avoidance and short sales. Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, even though it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.
Everyday after a payment is missed the clock is ticking and unfortunately it won’t go away. If you have missed a mortgage payment I will help you navigate through this professionally and discretely. There are alternatives to foreclosure. Contact me today, before time runs out!
5 Reasons to Avoid Foreclosure
1) The homeowner will always have to disclose they have had a foreclosure on any mortgage application.
2) Credit scores will be lowered by 300+ points affecting the ability to get a car, apartment, credit cards, etc.
3) A foreclosure is the one credit report item that is almost impossible to be "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 will put a
potential new hire in jeopardy.
The Making Home Affordable Program is designed to help homeowners obtain modifications to their loan so they can afford to stay in their home. Where a modification is not possible, new incentives encourage the "quick and private sale or voluntary transfer of property, which will save homeowners money and protect their financial future," according to U.S. Treasury Secretary Timothy Geithner. The National Association of Realtors® expects that a uniform process for handling short sales and financial incentives will facilitate this process.
"Many families are finding themselves with a mortgage that is higher than their current home value, and they are struggling," said NAR President Charles McMillan. "As Secretary Geithner noted, and as NAR has been advocating for many months, stemming the foreclosure crisis and stabilizing the housing market are critical to our economic recovery."
Resources
Do's and Don'ts of Foreclosure - Click Here
IRS - Questions on Foreclosure and Debt Cancellation - Click Here
Foreclosure Glossary - Click Here
Ohio Foreclosure Law - Click Here
Beware of Foreclosure Rescue Scams! - Click Here
Take the First Step in Avoiding Foreclosure!
Order the free reports 9 Ways to Avoid Foreclosure and Foreclosure vs. Short Sale - Homeowner Consequences
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