Should I Short Sale My Home? Or Let It Go Into Foreclosure?

Real Estate Agent with Keller Williams Realty Atlantic Shore

Should I Short Sale My Home?  Or Let The Bank Foreclose?

In Atlantic County, NJ real unemployment rate is currently 23%.  Nearly one in four household are currently effected by our unemployment.  Nationwide over 7.2 million people are facing a financial hardship and are in danger of loosing their home.  The question that many home owners have is should let the bank foreclose on my home or should I short sell the home? 

First of all if the bank forecloses on a home this severely effects the home owners credit score.  It will take 7 years to recover from a foreclosure in most cases.  One thing many people don't realize is that the bank may issue a "deficiency judgment" against the home owner to collect the money owed to the bank.  In some cases the bank issues a "wage execution order" and garnishes the pay check of the home owner until the money is paid back.  This can financially cripple the home owner for a long period of time. 

What is a short sale?  A short sale is when a home owner has a financial hardship and sells the home even though they owe more than the home is worth. Our team uses the area's premier short sale attorney to negotiate directly with the bank and protect the home owner throughout the process.

In a short sale a home owner's credit score will drop around 100 points.  Credit will be effected for about two years.  Our legal team protects the home owner from any deficiency judgments so that there will be no further debt obligation.

The bottom line is that going through foreclosure is severly financially damaging and will effect a home seller for a long period of time.  In a short sale the home owners debt is forgivven and the home owner can recover financially in a few years.

If you know of anyone who is facing a financial hardship and in danger of loosing their home please call me.  I will be glad to discuss their options and help them minimize the financial damage they may be facing.  Call me at 609-484-9890 ext. 132.

Best wishes,



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Matthew Haviland ~  ~ 609-484-9890 ext. 132

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If you want to avoid foreclosure (email me) and we will short sale it for you. We have funds to purchase it directly from the lender, so you can move on and purchase or rent your next home. If you have enough cash down you can buy anything, but why overpay, just look for an owner financing deal and put a small down payment and after 12-18 months get a loan and continue to make your payments. Good luck and again we can help you or anyone avoid foreclosure, move on with your life and not have to stress out about it. Gabriel

Jul 24, 2010 08:30 PM #1
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