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Are you having a hard time paying your bills?

Do you owe more on your home than your home is worth?

If you said YES to either question, then you may be a candidate for a SHORT SALE

WHAT IS A SHORT SALE? 

A short sale situation arises when a home owner needs to sell their home and the value of the home is worth less then what is owed to the bank. The owner of the property does not have the funds to make up this difference.

Short sales are being experienced across the nation in record numbers from condo properties to high-end estates.

Some factors that are contributing to the enormous amount of short sales:

• Loss of income
• Reduced income
• Business failure
• Damage to property
• Illness or death
• Divorce
• Relocation
• Mortgage Payment increases
• Too much dept

Here are some reasons to avoid foreclosure: 

1. You will always have to disclose that you have had a foreclosure on any mortgage application and many job applications you submit in the future, and this can have an adverse affect on your future mortgage rates.

 2. Credit scores will be lowered by 300+ points, and a foreclosure is the most devastating credit issue in relation to future credit availability.

 3. A foreclosure is the one item that is almost impossible to have “repaired”

 4. Your lender can seek a deficiency judgment against you and collect for any amount they do not recapture at the bank sale.

 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.

 6. Many current employers run credit checks, and a foreclosure can put a current position in jeopardy.

 7. Security clearance and government positions, including but not limited to military and law enforcement, can be jeopardized by a foreclosure.