Today’s post is just to make a small point to all of those people out there that are behind on there mortgage and are considering doing a short sale or have questions about the process.
If you or anyone you know are having trouble making their house payment, SHORT SALES ARE WORTH THE EFFORT!!! They take a bit of work, time and extra effort but it is worth it. Short sales are infinitely easier and less complicated then they have ever been. Banks have finally realized that they recover a much greater amount of money if they do a short sale than if they carry out a foreclosure.
People that successfully complete a short sale will be able to buy a home much sooner than those that have a foreclosure. They will be able to reestablish good credit much faster and with today’s current laws, will be likely to have the debt completely forgiven much easier than ever before.
Please do not “bury your head in the sand” and hope that the problem will just go away. It will, but it is not the wise way to solve the problem. A person will be back on their financial feet much faster after a short sale then a foreclosure and in the long run will be much happier.
If you have questions or concerns about short sales, please contact me. You will be so glad you did. It is nothing to be ashamed of, In fact you may come out the other side of it feeling proud of what you were able to accomplish.
P.S. I know of people that were able to buy a house in as little as six month after a successful short sale. It is not common but it is possible.