February 28, 2011

Are you struggling to make your mortgage payment?

There are options for you besides a foreclosure. Banks are increasingly more willing to work with homeowners to either stay in their homes or sell them short. There were more than 4.1 million modification arrangements between April 2009 and December 2010. This is more than double the number of foreclosure completions during the same time. If you are struggling, contact your mortgage company to see if you can stay in your home. In certain circumstances you might not be able to keep the home. In that case, a short sale might be your best option. In a short sale, a lender allows a homeowner experiencing a hardship to sell their home for less than what they owe on it. This process does hurt your credit, but typically does not hurt it as much as a foreclosure. There are incentives to both the homeowner and the bank to sell a house in a short sale versus a foreclosure.

If you are going through a hardship and are interested in doing a short sale on your house, give me a call or text at 317-413-5311 or email me at . I have helped several families sell their home in short sale. If you are unable to afford your house long term, then a short sale probably is one of your best options. Unfortunately, bad things happen to good people. If you are someone who has experienced some of the negatives in this economy, let me know and we can see if a short sale might help you out.

Posted by: Jeremy Page