5 Reasons to Avoid Foreclosure
If you are thinking that a foreclosure may be in your future because you are overwhelmed with dept or behind on payments here is 5 reasons to avoid foreclosure.
1. The home owner will almost always have to disclose that they had a foreclosure in their past.
2. Credit scores can be lowered by more than 300 points affecting your ability to get a car, apartment, credit cards, etc.
3. A foreclosure is one of the hardest things to repair on a credit report.
4. When you have a foreclosure on your record it can revoke or damage your security clearance with some jobs such as military, government, and police force.
5. Many employers run credit checks on prospective employees and ask on applications if you have ever had a foreclosure.
Instead of foreclosure look into doing a short sale on your home. Contact a local Realtor with Short Sale experience along with great selling capabilities. You should not have to pay the Realtor any commission whether they are able to successfully close your home or not. Most will give you a private consultation for free.
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