You will know someone soon, if you do not already has missed a couple mortgage payments...OR is borrowing money to make mortgage payments....from friends, relatives, robbing the charge card, home equity....whatever it takes to get the payment made....Stop, Stop, Stop....Show them this blog and maybe, just maybe, they will realize that getting deeper in debt is not the best way to deal with a cash short situation and that there are alternatives.
If your finances continue a downward spiral due to divorce, illness, job loss or some combination of financial problems and you see no relief any time soon, a short sale is a viable alternative...and foreclosure is not....and here are some of the reasons..
- The credit recovery from a short sale can be 2 years; a foreclosure on a credit record can take 7, 10 or more years.
- A short sale costs you nothing as a homeowner...not when you sell it and more importantly not later...your wages will not be garnisheed and you will not be charged with the deficiency caused by "shorting" the lender(s). With a foreclosure, you can expect all of the aforementioned consequences.
- If you have or ever will have a career requiring security clearance in the military, the government or law enforcement,..a foreclosure can prevent you from getting that clearance, a short sale cannot.
- More and more often credit ratings come in to play with employment applications, a short sale never appears on a credit report.
These are just some of the very important reasons that a homeowner should consider a short sale rather than wait to be run over by the proverbial foreclosure bus.
If you or someone you know has these kinds of financial stresses...due to either residential or commercial real estate...tell them to call us...no matter what their situation or where they live...we can find a short sale expert to help...call us locally: 414-525-0573 or Toll Free: 877-525-0563.
We don't just DO Short Sales...We CLOSE THEM !!!
Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS
