There are several alternatives to short sales including loan modifications, refinances, and foreclosures, each of which could benefit the home owner. At San Diego Short Sales ASAP we look at each client’s situation and recommend what’s best for their particular situation, but most often, we provide short sale help, and here’s why.
A Fresh Start
A foreclosure may allow you to walk away from your current home, but you do so with a large mark on your credit history. On top of that, Fannie Mae won’t approve you for a new home loan for up to seven years.
In a short sale you might be facing the possibility of foreclosure, but you haven’t gotten there yet. The goal should be to get short sale help before you are 60+ days late on a payment.
Peace of Mind
Refinancing your current mortgage can help to reduce your interest rate and bring your payments to a more manageable level. Likewise, a loan modification can lower your interest rate, alter the term on your mortgage, and lower your monthly mortgage payments. These may be options that change your mortgage situation for the better and allow you to remain living in your home, but is that what you want?
The responsibility of home ownership is a stressful experience for some San Diego home owners. With short sale help you can walk away from your home and move into a financially comfortable housing situation.
Cash in Your Bank Account
You might not make any money on a short sale, but you could save money by paying rent or purchasing a less expensive home. If your current home mortgage doesn’t allow you save money, contact San Diego Short Sales ASAP to find out how we can help with a short sale.
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