Foreclosure Help
The current real estate market has caused stress and confusion for many homeowners. Many are facing foreclosure which is a devastating financial and emotional process for anyone to go through.
Why Foreclosure Should Be Your Last Resort-
You will always have to disclose you have had a foreclosure on any mortgage application and on many job applications.
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May impact your credit report negatively (affecting ability to get a car, apartment, credit cards, etc!)
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A foreclosure is the one credit report item that is almost impossible to have "repaired".
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Military and government security clearance could be at risk with foreclosure.
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Many employers run credit checks on prospective employees and foreclosure is one of the top items that could put a potential new hire in jeopardy.
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You will be ineligible for a government insured loan (VA, FHA, VHDA) for 5 to 7 years
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You may end up with a "Deficiency Judgment."
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You may end up with a tax liability in a foreclosure.
As the owner of your home your opportunity is between the time you first experience financial distress and when your home goes to bank sale or auction. The time period between your first missed payment and the final bank sale date is called pre-foreclosure and you have not yet lost control of the property. This is a critical stage since you can still offer the property for sale, negotiate offers, sign contracts, and do what you can to avoid foreclosure.
If you are having trouble paying your mortgage? Nothing is worse than doing nothing. Call the Homeowner’s HOPE™ Free Hotline:
1.888.995.HOPE.
http://www.hud.gov/foreclosure
http://www.housingeducation.org
I am here to help you take advantage of this window of opportunity to sell your home while still in the pre-foreclosure stage.
