When going through a difficult financial situation regarding your home, it’s best to immediately consult with a short sale specialist even though it is sometimes easier to just act as if nothing is wrong and not do anything about it. But is that really the best decision for your financial future? Many underwater homeowners often question if it’s better to let their home go into foreclosure or if they should actually do something about it by pursuing a short sale.
Some lawyers and CPAs often recommend doing nothing because it’s the safest and easiest thing to do, but that’s not the best advice. If you are having a hard time making your mortgage payments you should really talk to a San Diego short sale specialist; they can tell you everything you need to know about the benefits and impacts of a foreclosure versus the benefits and impacts of a short sale. A short sale specialist will tell you that when you allow your home to go into foreclosure you’re taking the easy way out. If your home is foreclosed on, you aren’t allowed to purchase a home again for five to seven years and the negative impact on your credit is much greater than when doing a short sale. If you short sale your home, you’re able to purchase another home again in two to three years. Doing a short sale also provides you with the opportunity to negotiate your debt away and start out on a new financial path. Some lenders are even offering monetary incentives or relocation benefits to their underwater homeowners if they do a short sale instead of foreclose because banks net more money when they allow a home to be sold via a short sale. There are many programs out there, especially in California, that provide incentives to homeowners that short sell their properties.
If you need more proof as to why short selling your home is the better option versus losing your home to foreclosure contact your San Diego short sale specialist today. They can walk you through the many advantages of a short sale and help you begin the process of regaining control of your financial situation.
