The advantages of short sales vs. foreclosure
What should you do if you are a home owner who is confused as to what steps to take when you can no longer afford to stay in the home and can’t sell it for what is owed. There are many myths surrounding the advantages and disadvantages of short sales vs foreclosures. Call us at 801-589-2437 or email us at steelrider2002@yahoo.com and we will educate you about the short sale process, get an offer for your home, and lift the burden and stress that comes from dealing with the Banks.
Many home owners believe doing a short sale has the same negative effect on my credit as a foreclosure.
A short sale or a foreclosure is definitely not positives for your credit, but a foreclosure is worse than a short sale. In a short sale your credit will recover much faster typically 2-3 years vs 5-7 years for a foreclosure.
Any time you apply for a loan you will be asked if you have ever filed bankruptcy or had a foreclosure. It is always better to answer NO to those two questions.
By having us handling a short sale you will have the opportunity to request or negotiate favorable terms for yourself. For instance; you can ask for a “paid in full-paid as agreed” to be placed on your credit. The lender does not have to agree to this but it is your right to negotiate the terms. If you foreclose than you give up those opportunities and you no longer have most of the options that you have while you still own the home. Call us at 801-589-2437 or email us at steelrider2002@yahoo.com for more information
When a home owner chooses us as their Realtor or negotiator to work for them in negotiating a successful short sale then you have the piece of mind to know that you are in good hands. We can educate you on the process and the possible outcomes and ramifications. Fear is usually because the person doesn’t understand the outcome. Once you know the outcome you have much less fear.
Many people who find themselves in a situation where a short sale or foreclosure is their only options find it much more comforting to know they are doing something instead of just sitting back and letting their home foreclose. Most homeowners never wanted to end up in a position where a short sale is necessary but at least they can take steps to show they are trying to rectify the situation. (Reported by Micah Pearson; Editing by Blake Rounkles)
Let me know if I can help,
Blake Rounkles
Northern Realty
2071 Layon Hills Mall
http://www.utahhomes.biz
Cell: 801-589-2437
Fax: 801-336-3070