Short Sale vs Foreclosure
When mortgage payments become too expensive and you cannot make your payment, there are two options to reconcile the situation. Most people initially think of foreclosure, but this can lead to many more issues down the road and have drastic impacts on a homeowner’s creditworthiness. That’s why it’s important to avoid foreclosure and instead chose the alternate route of short selling your home. The short-sale specialists at EZ Short Sales can teach you how to short sell your home to prevent foreclosure and continue with your life.
A short sale is almost identical to selling your home when payments are up to date. You choose a real estate agent, make a deal with an interested buyer, and work together to get the house sold. The only difference is that if the homeowner is still behind on their payments, a short-sale specialist works with the lender to accept the price of the short sale before the deal is finalized.
Why Foreclosure Prevention is a Must
A foreclosure has a significant impact on a person’s credit report, and it can take years to regain an acceptable credit score. When your house is foreclosed, it also directly impacts your ability to buy another property, as most lenders will not approve you for financing due to your missed payments.
Don’t let a bad situation get worse. When you choose to short sell your home rather than go through foreclosure, your mortgage payments are no longer an insurmountable obstacle. As an extra bonus, you are not required to disclose a short sale when looking to buy another property or secure another loan. The same cannot be said after going through a foreclosure.
Foreclosure prevention gives you the financial freedom you deserve so you can get back on track. Here are just some of the foreclosure consequences you may encounter:
- Your credit score can be impacted by at least 200 points
- It can remain on your public record for seven years
- It is nearly impossible to secure another loan
- Your lender may sue you for the outstanding mortgage amount
- Your tax liability can increase
- Your professional profile can be hurt by poor credit
Avoid these foreclosure penalties by partnering with a short-sale negotiator at EZ Short Sales.
How a Short Sale Can Solve Your Problems
If you are facing foreclosure or are overwhelmed with your mortgage, engaging in a short sale is the permanent solution to being upside down on your mortgage payment. We don’t charge you for our short-sale services to ensure you are not burdened with even more costs. Consider the benefits you will gain by choosing to short sell your home and avoid foreclosure, including opportunities to:
- Sell your house without a damaging foreclosure on your record
- Avoid the foreclosure penalties that can ruin your financial wellbeing
- Begin financial recovery during the short sale-process
- Avoid long-last impacts on your credit score
- Save thousands of dollars over the life of the loan
- Reverse your negative equity position
Move Forward with a Short Sale
We understand that making a decision to go ahead with a short sale is often difficult and confusing. That’s why our team of short-sale negotiators is eager to walk you through the process step-by-step to ensure you fully understand the benefits of a short sale. We have the ability, experience, and customer service to advocate for your financial wellbeing throughout the process of a short sale.
We know how banks and lenders operate, making us the most qualified short-sale company to give you the service and results you deserve. Contact us today to begin your short sale with a free home evaluation.