I think that short sales are one of the most misunderstood options that distressed homeowners have today. I was speaking with a homeowner today who was facing foreclosure and was not able to qualify for a loan modification. She was adamant that she didn't want to do a short sale, because it would hurt her credit. What she didn't realize was that the foreclosure would have a much greater and longer lasting effect on her credit, and she may still owe whatever was leftover on her loan once the home was sold at auction. I was trying to help her avoid these problems, but because she had heard that short sales were bad, she didn't even want to discuss it. I've found that http://www.hopenow.com/homeowner_options.html is a great site that explains many of the options that homeowners have. Educating yourself about your options is the best first line of defense against making a poor decision for you and your family.
Joseph Cacciapaglia, MLERE
Realtor Associate®
R&I Realty
15 Potter Street
Haddonfield, NJ 08033
Office: 856.795.3111 x268
Cell: 979.218.2286
Jcacci1@gmail.com
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