Are you facing foreclosure? You may have a better way out!
There are countless hardships that can turn home ownership from a joy to 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 situation will not make it disappear; 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 accept less than is owed on the loan in order to avoid the expense of foreclosure and the burden of maintaining a vacant house. Typically, a short sale does less damage to your credit than a foreclosure will. Either course may have tax consequences that you should be aware of.
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. Ann Heitland, who has had over thirty years experience advising people in difficult situations, will be in touch with you with helpful information.
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