Short Sale Specialist West Miami, FL
Why would you need a good short sale specialist in West Miami, FL?
If you're facing foreclosure in West Miami, FL, working with a short sale specialist may help you point you in the right direction as to what options you may have. You don't have to go through a short sale if its not a good fit for your situation. Yet, it could end up being the best long term decision for the right candidate. For example, you can attempt 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.
The next best option could be foreclosure. In the short term, you can potentially save money without making mortgage payments for months, but your credit score will suffer gravely. 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.
If you are in financial distress with your house in the City of West Miami, 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 (305) 496-6693.