7 Reasons to Avoid Foreclosure in Murrieta, Temecula, Menifee and sorrounding areas

Real Estate Agent with Temecula Short Sale Specialists - Lighthouse Properties

Here's a small list of BIG reasons why everyone should do everything possible to avoid going through foreclosure:

  1. You may end up with a Deficiency Judgment and be sued by your lender(s) after the foreclosure. For more info see our post on the new CA deficiency laws.
  2. Many current employers run regular credit checks on their employees and a foreclosure on a credit report can be grounds for termination of employment.
  3. Credit scores can be lowered by 300+ points after a foreclosure. It is the most damaging credit issue in relation to future credit availability and costs.
  4. Foreclosure is the only credit item that will affect your future credit rates even when it is off your report.
  5. For the rest of your life you will have to disclose on all mortgage applications, and many job applications, that you went through foreclosure.
  6. A foreclosure on your record can result in losing Security Clearances for government, Military, law enforcement, and other job positions.
  7. You will not be eligible for any government insured loan for 5 to 7 years (but only 2 years in a short sale).

Have you done everything you could to avoid a foreclosure on your record?

We help families avoid foreclosure in Temecula, Murrieta, Menifee and the surrounding areas. Call us today for a FREE Consultation to explore all of your options. There is never any cost to you, your lender pays our fee. Call Mark & Betty (951) 443-5274 or (951) 760-6936 (habla español).

Also see our "Stop Foreclosure" article.

Comments (1)

Dan Edward Phillips
Dan Edward Phillips, Humboldt and Del Norte Counties, CA - Eureka, CA
Humboldt and Del Norte Counties, CA

Good Morning Betty, excellent input for the home owner to review.

Feb 28, 2011 09:44 PM