A Short Sale is a Good Alternative to Foreclosure
by: Mariana Wagner Real Help for
Briargate homeowners:
* Are you getting behind on your mortgage payments?
* Is your mortgage payment about to adjust and you will not be able to afford the new
payment?
* Have you fallen on rough times (divorce, death, illness, layoff...) and can no longer
afford your home?
* Do you feel like giving up? Sending your keys back to the bank? Just walking away?
Do you owe more on your Briargate home than you could possibly sell your home for?
Foreclosure is not your only option.
If you let your home foreclose, you will:
* Have a permanent black mark on your credit report that will (in most cases) prohibit you
from EVER buying a home again
* Possibly lose employment opportunities with employers who check credit prior to hiring
* Severely limit your ability to EVER buy
anything on credit again
* Be liable for the difference between what you owe and what the bank sells the home for
after you foreclsoure
* Be liable for all attorney fees associated with the foreclosure of your home
* Have a stigmatized "Bank Owned" sign in the yard of your (former) home for all your former
neighbors to see
A Short Sale is a GREAT alternative to foreclosure.
A short sale happens when a home sells for LESS than the total mortgage on the home, because ...
* A homeowner owes MORE than the home could sell for
* The mortgage comany(ies) for the property agree to take LESS than they are owed
* The homeowner is in a state of financial hardship and cannot keep making the mortgage
payments
A short sale is a great alternative to foreclosure because:
* A short sale DOES NOT REFLECT on the credit report, like a foreclosure does
* The only negative marks on your credit report will be the missed mortgage payments
* Your credit CAN RECOVER from late payments
* Once your life gets back on track, you WILL be able to BUY ANOTHER HOME
* In many cases you will NOT BE LIABLE FOR THE DIFFERENCE between what you
owe and what the home sells for
* The sign in your yard will be a regular sign - NOT an announcement that you are losing (or
lost) your home
*
You will have a professional Realtor® ON YOUR SIDE to help you:
- SELL your home
- NEGOTIATE with your bank(s)
- Work through all the PAPERWORK
- PUSH BACK your Foreclsoure Date to allow time to get the home sold
- You can MOVE ON WITH YOUR LIFE without the stigma of foreclosure
