A well written reminder that an under water homeowner should examine all their options - including a short sale - before walking away from the property and letting it go to foreclosure.
Short Sale FAQ's-Why would my lender accept less than what is owed on my mortgage? Lenders are in business to lend money, not to own real estate. They do not want the expense of the foreclosure process and/or the holding and maintaining of the property if it does not sell at foreclosure. The foreclosure process is very expensive and time consuming, so many lenders will agree to what seems a loss on the mortgage when they will actually save money by not completing the foreclosure and holding the property in their portfolio.
Avoid Foreclosure-What Are your Choices? Sometimes walking away may be your only option. This may be the case especially if you feel you've exercised every option, including a loan modification. But before you walk away, make sure you know what your options are and how they will affect your credit. You may be able to Avoid Foreclosure and walk away with less of an impact on your credit than you think.
Copyright © 2010 By Stephen Munson,Munson Realty Southern California Real Estate –Homes For Sale Pasadena ca*Avoid Foreclosure-What Are your Choices?*
If you are considering a Traditional or Short Sale of your home in Phoenix, Scottsdale or any location in Maricopa County Arizona, you owe it to yourself to talk with the BVO Luxury Group @ Keller Williams Arizona Realty to determine whether Tony and Suzanne Marriott are the best real estate Brokers in the Phoenix and Scottsdale metropolitan area to help you with the Successful Sale of your home.
Tony and Suzanne have personally Listed, Sold and Closed more than a hundred Short Sales with the highest list to close rate in the Phoenix Metro Area!
Tony Marriott - Chief Operating Officer - BVO Luxury Group @ Keller Williams Arizona Realty
Suzanne Marriott - Chief Learning Officer - BVO Luxury Group @ Keller Williams Arizona Realty