Are you losing sleep over your home mortgage?

If your house payment is more than you can pay and your mortgage balance is greater than the current market value of your home you may be losing sleep. You may think foreclosure is your only option, but there are other options that will get you out of your situation quicker and with much less damage to your credit history.
The program I am suggesting is called a "short sale." A short sale simply means that you sell your property for less than the balance owed on your note, and you do so with the lender's blessing. This is a win-win for all parties. It is good for you as a seller because you list your house with me and I take care of everything. It is better for the mortgage company because they don't have to foreclose which in most cases nets them less money and takes a longer time to accomplish, not to mention; lenders do not want to be property owners.
It may sound too simple to be true but I, as your realtor, do all the work and you can stop worrying about making a payment. The negative impact on your credit history is far less damaging with a short sale than it would be with a foreclosure. A short sale will cause a reduction in your credit score from 50 to 80 points. A foreclosure will cause a 250 to 300 point reduction in your credit score.
If you are losing sleep over your mortgage payment and are looking for a solution, call me.



Imploded Mortgage Companies

This site lists all of the Mortgage Companies that have "imploded" since 2006. It also shows current Mortgage information and some of the top "non-imploded" mortgage companies.

ml-implode.com


More to Come

This page will soon have all you need to know about foreclosures. Please contact us if you have any questions.