Are you Facing Foreclosure?

You May Have A Better Way Out!

There are countless hardships that can turn home ownership from a joy into 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 bills will not make them go away, 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 do this because it spares a lot of hassle and expense involved in executing a foreclosure.  And typically, a short sale does far less damage to the homeowner’s credit than a foreclosure does.

The government has started many new programs to give the lenders incentives to work with homeowners.  Your lender may be participating in one or already have one of their own hardship programs available.  If you have contacted your lender and seem to have no other option but to sell, I can go over the market and your situation to see what may work best for you. 

Visit www.AvoidForeclosureToledo.com for more information about “short sale.”

Posted at 07:40PM Jun 17, 2009 by Victoria Luhring in Mortgage and Stimulus Money  |  Comments[0]