Why would you need a short sale specialist in Silver Spring, Maryland?
A good short sale specialist will represent your best interests and tell you what your best options are.
You don't have to go through a short sale, but it may be your best choice over the long term. For example, you can try to get a loan modification, in which your lender sets new terms that are (hopefully) more affordable for you. To be honest, many loan modifications do not work out, and they are extremely frustrating. I often hear stories from homeowners trying to get a loan modification say they have repeatedly sent in their documentation and the lender then "loses" it.
One client of mine said he followed the loan modification process set by the bank only to be told months later the modification was denied because he made too much money. The reduced payments he had been making during the interim period were not the full payments he should have made, the lender said, and therefore he was 
now in default.
Another option is foreclosure. Sure, you can save money without making mortgage payments for months, but your credit score will get hit hard. According to the Distressed Property Institute, which trains real estate professionals and educates homeowners about foreclosures, a foreclosure may cause a homeowner's score to fall 250 to 300 points, and will weigh down the score for more than three years.
A short sale, on the other hand, will be reported on a credit report as "paid as negotiated," or similarly, and can lower a score by 50 points for 12 to 18 months.
For many residents in Silver Spring, Maryland, and in the Washington, D.C., area, security clearances are vital to their jobs. If these workers suffer a foreclosure, their clearances could be revoked and their positions could be in jeopardy. Because a short sale is not explicitly reported on a credit report, it does not challenge a worker's security clearance.
In a shot sale, you wouldn't wait long to get an offer when there are cash buyers available. A good short sale specialist also will have a good negotiator in hand to make the process move quickly so you can get on with your life.
Yes, it is stressful to go through a short sale, but with the right short sale specialist, that pain will be temporary.
If you are in financial distress with your house in Maryland, and would like to see if a short sale is the right choice for you, feel free to contact me to discuss your options. Visit my website for additional information. Or I can be reached directly at (240) 481-0991.
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