Top 12 Reasons To Avoid Foreclosure!
1.) The homeowner will always have to disclose that they have had a foreclosure on any mortgage application and (many job applications) that you submit in the future and this can have an adverse affect on your future mortgage rates.
*This is the only credit item that is asked specifically and does not rely on what is on an individuals credit report. There is no 7 year time limit on this item.
2.) Credit scores will be lowered by 300+ points (per loan) and a foreclosure is the most devastating credit issue you can have in relation to future credit availability.
3.) The homeowner will be ineligible for a government insured loan for 5 to 7 years (only 2 years in a short sale)
*A Foreclosure is the one credit report item that is almost impossible to have repaired.
4.) Your lender can seek a deficiency judgment against you and collect for any amount they do not recuperate at bank sale.
5.) Many employers run credit checks on prospective employees and foreclosure is one of the top items that will put a potential new hire in jeopardy.
6.) Many current employers run credit checks and a foreclosure can put a current position in jeopardy.
7.) Security clearances and government positions including but not limited to military and law enforcement can be jeopardized by a foreclosure.
*Revocation of secruity clearance can result in job reassignment or loss.
8.) The tax liability in a foreclosure may be much higher than in a property negotiated short sale since in most cases cancelled debt will be higher.
9.) "As a Certified Distressed Property Expert (CDPE) I will explore every option with a homeowner and work towards a resolution."
10.) "While it may not seem like it now there will come a time where your current financial troubles will pass. You will feel much better knowing that you did everything you could to avoid this devastating financial consequence so many people face today."
11.) Protect and Preserve Homeownership.
12.) Protect and preserve Homeowner Equity.
As Certified Distressed Property Experts we deal with banks, loan servicer's and asset managers who contact us on a daily basis to help determine the value of their assets. You can be sure that you've selected a firm with previous experience and expertise of local market trends. For more market trends visit www.BaltimoreMarketTrends.com
Call the REALTOR® the banks call to sell their homes. Contact Aaron Rice today 443-244-0051.
Do you want to know what your home is worth in today's Shifted market?
Click here http://www.baltimorehometeam.com/whats-my-home-worth.asp
If you, your family or friends are looking for refinancing strategies, tips for a quick sale or information on purchasing a home, I invite you to call me for valuable information on today's ever changing real estate market.
Aaron Rice, CDPE, CRS, GRI, SHS
Baltimore Home Team
Keller Williams Realty
3301 Boston St. Suite 200
Baltimore, MD 21224
443-244-0051 Cell
www.BaltimoreShortSaleTeam.com
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