Bank Owned Homes in Stoneybrook at Gateway

Real Estate Agent with Absync Realty


Bank Owned Homes in Stoneybrook in Gateway

Bank Owned Homes in Stoneybrook at Gateway

There are not as many bank owned homes in Stoneybrook at Gateway.  There has been a shift in the way distressed mortgages are handled.  This shift has come about as a result different attitudes on the part of the banks and the homeowners who are in trouble.  The shift that I speak of is that many more homes are sold through short sales now than through foreclosure.  Take a look at the bank owned homes in Stoneybrook at Gateway.  Next take a look at the short sales currently offered for sale in Stoneybrook at Gateway.  What you see is that there are many, many more short sales than foreclosures. 

Homeowners have become educated to the fact that a short sale has much less impact on their credit rating than any other solution.   What we are finding is that the negative impact to credit of a short sale is about two years.  On the other hand a foreclosure sticks with a person for 7 years and bankruptcy 7 years as well.  Losing a home is stressful and it takes a special person to fight the defeated feeling that is impossible to avoid.  In the end it is impossible to avoid the reality that a move is going to take place.  By being proactive and controlling that move homeowners have the opportunity to affect their life for years to come.  If on the other hand they choose to allow others to be in control they must accept what happens to them without having a word in it.  In a short sale the homeowner has the advantage of having a professional deal with the bank in their best interest.  These professional negotiators know the intricacies of the process and the specific requirements of each bank.  They work to protect the homeowners credit to the best extent that they can and most of the time arrange for the homeowner to be released without any financial obligation.

Foreclosure is a process in which everyone loses.  Homeowner's credit ratings are devastated.  Homes deteriorate as people give up and cease caring about a property that they no longer have an interest in.  In addition the process is lengthily and the homes sit without electricity thus ventilation for extended periods of time (sometimes years).  Of course the effects are mold and other negative consequences.

The reduction of bank owned homes in Stoneybrook in Gateway is a positive thing.  Nonetheless there is still the occasional bank owned home home in Stoneybrook in Gateway.  Click this link to see the current bank owned homes in Stoneybrook in Gateway then give the Dohack Group a call and allow us to assist you in finding the perfect home.

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