Avoid foreclosure with a short sale in Springfield, Republic, Clever and Billings, Missouri

Avoid foreclosure with a short sale in Springfield, Republic, Clever and Billings, Missouri.  If you bought or "cash out" refinanced your home at the top of the Springfield market you probably owe more than the value of your property.  If making the payments is getting more difficult or you have already fallen behind, what can you do?  Don't despair!  There may be a way out of your dilemma.  You may qualify for a short sale.

DO YOU QUALIFY FOR A SHORT SALE?

 You must prove to your lender one the following situations exist:

• Your monthly expenses exceed your monthly income;
• You are experiencing a financial hardship;
• You are about to experience a loss or become insolvent.

 WHAT WILL MY LENDER ACCEPT AS A FINANCIAL HARDSHIP?

  You must be able to verify one of the following hardships exist:

• Your loan payment has increased;
• Your taxes or insurance have gone up;
• You have lost your job;
• You have been forced to relocate to keep your job;
• Your income has been reduced, i.e. pay cut or reduced hours;
• You are a small business owner whose business has failed;
• You have experienced a severe illness;
• You have gotten a separation or divorce;
• Your spouse or a family member has died;
• You are in the military;
• You have inherited the property and cannot pay for it;
• You have been incarcerated; or
• Your property has been severely damaged.

WHY SHOULD I CONSIDER A SHORT SALE?

• A foreclosure stays on your credit report for up to 10-years.
• You may not qualify to buy a home for up to 5-years and the interest rate may be higher than the normal rate.
• A short sale will allow your credit to recover much faster and keep you from having to pay a higher rate when you purchase your next home.

 WHY WOULD MY LENDER DO A SHORT SALE?

 The lender avoids expensive legal fees by accepting a short sale.

• A short sale allows the lender to get rid of the property much faster.
• The lender avoids all the costs of maintaining the home, i.e. taxes, insurance, utilities, maintenance, etc.
• If you still live in the home the lender does not have to take care of maintenance or be concerned about vandalism.

WHAT DO I NEED TO DO NOW?

Every day you delay your credit get worse and the chances of getting out of this situation go down.  I have experience with this type of sale and I work with a team that includes an attorney and a tax consultant so you can avoid having a deficiency judgment and manage how your taxes will be impacted.  So, call or text me today at 417-224-4330 or send me a message at rhodges@hodgeshouses.com.

 For more information about avoiding foreclosure with a short sale contact me.