Owe more than it's worth?

By
Real Estate Agent with Mountain Lake Properties

What to do when you don't know what to do!

If you owe more than your house is worth and you are in a true hardship, get help. Raise your hand and ask for help from a Real Estate Professional. A short sale is better than a foreclosure on your credit report for many reasons. You may have to wait to get a home loan for 7 years with a foreclosure. With a short sale, it shows there was a work-out for the loan. There are employers who ask for a credit report. Always check with your tax professional or legal council regarding the tax consequences for your circumstances. A sold home is better for the community than a foreclosure that can sit empty and un-loved for a period of time. 

Just ask for help.

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Rainer
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Jane Brayton

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