The Answer is Short Sale Not Foreclosure

There are many homeowners who are struggling to meet their mortgage obligations.  In April, 2008 there were over 1,600 foreclosures in Florida alone.  Homeowners and investors alike are foreclosing on their properties at a quick pace. 

However, foreclosure is not the only option.  In fact, it should be the last option you use to solve your problems.  Foreclosure is the most severe offense you can have against your credit.  It will take six years before you can purchase another home.  Believe me, it may seem like the right solution now, but six years is a long time.  You will want to begin building your life and credit way before then.  You will spend many years regretting you ever did it.

Before you jump into foreclosure, see if you are a candidate for a Short Sale.  If you owe more than your house is worth, are late in your mortgage payments, and possibly facing foreclosure; you very well could be eligable.

Basically what you are doing is asking the bank to allow you to sell your house for a lower amount than what you owe on the mortgage.  It is a lengthy and tedious process.  There are endless phone calls to the bank, lengthy forms to fill out and the burden of selling your home.  But, it can be done without much effort on the homeower’s part. 

A Realtor® specializing in short sales can make the process simple and smooth.  You just have to be patient, because it can take time.  Short sales can be tied up with the bank for as long as six months, but three months being the average amount of time.  Besides you providing pertinent documentation, all other processes are handled by the agent.  Your credit is repaired in half the time of a foreclosure.  Making it easier for you to move on with your life.

Not sure what to do now?  The first step is to call a Realtor®.  I have been trained in the short sale process and will be glad to help you with your short sale or answer any questions for you. 

Contact Susanne Quirk by email or by phone (561) 386-0350.

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Troubled Homeowners


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  1. Pingback: The Fires Were a Sign ·

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