Short Sale vs Foreclosure
Don't Let Time RUN OUT!!
Don’t Let Time Run out on You!!
Under water / Struggling with your House Payments?
CDPE agents can help evaluate your situation.
This Real Estate market has caused untold heartache and stress for all the parties involved in an underwater situation. If you are in a situation where you cannot continue to make the payments on your home and you owe more than what you can sell it for you are “underwater” in your mortgage, a short sale may be the answer.Foreclosures and bankruptcies can have a far more negative impact on your credit score, and can limit your ability to purchase another home or vehicle for a longer period of time. A short sale can be the lesser of many other evils. A short sale, while it does have a negative impact on your credit, has less impact than a foreclosure or bankruptcy. A short sale is an offer that the bank accepts and agrees to take less than what is owed to them, for example you owe $234,000 and the house sells for $220,000 therefore the bank is accepting less than the loan balance. This will typically lower your credit score less than a foreclosure and for a much shorter amount of time.
DON’T SIGN any papers that you don’t fully understand, or you could make bad matters worse.
DON’T SIGN any papers that you feel pressured into signing. Take your time.
DON’T MAKE mortgage payments to anyone other than your lender.
DON’T SIGN over the deed without some closure or agreement for your protection. Talk to your attorney or title company if you need help.
DON’T EVER pay anyone who claims to stop foreclosure. You can stop the auction yourself.
When it comes to your home and the situation you are in, you have to look at your individual situation and what laws are applicable in your state.
Helping you out of your home in a dignified manner.Short Sale has been referred to by more than one real estate professional as a dignified solution to a financial crisis. The reality is that many homeowners today owe more of their homes than they are worth and don't know what to do. If you have exhausted other options like a Mortgage Modification or a refinance or simply can no longer afford your home due to the loss of a job or other hardship, a short sale may be the option best for you.
Based on 4/28/10 figures
Nationwide Average REO sales price $141,000
Nationwide Average short sales price $215,000
This shows the difference a short sale can make for you.
Did you know that nearly 90% of the homeowners nationwide who try to "short sale" their home will end up losing their home to foreclosure due to an uneducated agent who does not know how to properly get your property ready and present to the bank?
Not all agents can do a short sale and not all people qualify for help. We will evaluate your situation if it meets the following criteria:
You may only need help getting a temporary reduction in your payments to become current. We are here to take your calls and answer your questions. Call to discuss possible options that you may not be aware of. We are here to help. What do you have to lose? Frustration, stress, damage to your credit? If you're not sure and just want to find out if you qualify, call Faye at 210 216-7722.
Call for A 24-Hour FREE CDPE Report on Foreclosure vs. Short Sales
A CDPE agent is specially trained to evaluate your situation and discuss your options.Here is a clear recognition by Wachovia Wells Fargo of the value of the CDPE designation. CDPEs are changing the industry, and the industry is taking notice.
Also to share some comments from Matt Vernon, Bank of America’s short sale and REO executive: “We will be building a feedback loop between CDPE and Bank of America. We want your questions to go to Bank of America and have answers posted back into your forums to help the community understand and to support you in the field and maximize our voice to the consumers.”Matt told us that he “is more passionate today than he has ever been” and that he is “incredibly excited to be our partner.” We couldn’t be more excited either.
Helpful Links:
Avoid Foreclosure-- Warning Signs
1-800-216-2475 and enter ID# 9207
Do's and Don'ts of Foreclosure-Freddie Mac
