It seems no matter where you turn the talks are about foreclosures and short sales. It is sad to see that so many homeowners are loosing their homes and their dreams. Many are not only loosing their homes, but taking a huge hit on their credit from having the worst possible ding which is a foreclosure. A foreclosure is even worse than a Bankruptcy. Even worse we see people claiming bankruptcy and their house going into foreclosure. So what is the best option for homeowners threatened with the unfortunate situation of a foreclosure?
I recently took the initiative to get my SFR (Short Sale Foreclosure Resource) certification through the National Association of Realtors. Short Sales are a great option for homeowners who are facing foreclosure. Not to say Short Sales are an easy process for anyone involved, but if the Short Sale can be negotiated successfully, the homeowner is going to be far better off than they would be with a foreclosure. One given example, a foreclosure can lower a credit score by 200 points or more and remain on the credit report for 7 years, while a short sale (if all other credit accounts are current) may only lower a credit score by 50 points. Of course, each individuals situation is unique and will affect their credit differently. Nevertheless, you can see the significance in the difference between a foreclosure and a short sale.
In conclusion, I say again, short sales are not an easy process and may fail for many reasons, but what is the alternative? A foreclosure that will be with you many years to come. I am not afraid of a challenge, I am not afraid to do short sales, and frankly I genuinely want to be that Realtor that is out trying to help people walk away from a bad situation unharmed as much as possible. I have the knowledge to help and believe in helping those in need.
If you are facing a forclosure and want to know if I can help you with a short sale please contact me.
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