The Effects of Foreclosure on Everyone
Foreclosures are often expressed in popular media as occurring in "waves," e.g.,the foreclosure wave due to the reset of option adjustable-rate mortgage (ARM) interest rates , the foreclosure wave due to increases in unemployment. I am hearing there is another "wave" of foreclosure's that is going to hit the market soon. Foreclosure has a ripple effect on neighboring homeowners by applying downward pressure on property values.
Distressed Homeowners
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Loss of Home
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Loss of Equity
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Damage to Credit
Neighboring Homeowners
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Declining Home Values
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Loss of Equity
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Increased possibility for vandalism & theft
Surrounding Community
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Declining Home Values
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Reduced taxpayer base
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Increased possibility for vandalism & theft
Foreclosure lowers credit score by 200 points or more and remains on credit history for 7 years!!
There are options to foreclosure that keep everyone happy. 
Please call us for help if you find yourself facing foreclosure. We can discuss doing a short sale with your lender to avoid foreclosure. There are effects on everyone in a short sale but they are not as severe.
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