Eight Reasons You DEFINITELY Want To Prevent a Foreclosure...
1. You will always have to disclose that you have had a foreclosure on aniy mortgage application in the future and this will have an adverse affect on your mortgage rate. This is the only credit item that is asked specifically and does not rely on what is on your credit report. THERE IS NO SEVEN-YEAR LIMIT ON THIS ITEM!
2. Your credit scores will be lowered by 300+ points and a foreclosure is the most devastating credit issue you can have in relation to future credit availability.
3. A foreclosure is the one credit report item that is almost impossible to have repaired.
4. Your lender can seek a deficiency judgment against you and collect for any amount they do not recuperate at a bank sale plus their cost to foreclose.
5. Many employers run credit checks on prospective employees and foreclosure is one of the top items that will put a potential new hire in jeopardy.
6. Security clearances and government positions including but not limited to military and law enforcement can be jeopardized by a foreclosure.
7. You may be responsible for any deficiencies after foreclosure for an indeterminate period of time depending on the state you live in AND can land you as the foreclosed home owner in a never ending collection cycle.
8. As your CDPE (Certified Distressed Property Expert) Realtor I will explore every option with you and work towards a successful resolution. NEVER A CHARGE OR FEE! Call NOW BEFORE IT'S TOO LATE.
Learn more about why we are in such a mess: www.AskMeAboutAShortSale.com (click on Foreclosure Alternatives then click on Foreclosure Wars White Paper in the upper left).