Should I Short Sale My Home?
Is the Short Sale the Solution to the Housing Crisis?
Thinking about short selling your house but worried about your credit. Don't worry millions of people just like you are thinking the same thing. Nobody knows for sure what the future holds for us but we can make some educated guesses from past experiences.
Let’s begin by stating categorically, everybody’s situation is unique and we can not recommend which decision is best for you. We will supply you with information, facts opinions and educated guesses. Your job is to weigh all information you have and make the best decision that fits your situation.
I can’t afford my payment?
This one is fairly easy if you can’t afford your payment and the loan modification was not successful or did not lower your payment enough which at this time is about 80%. Then the only two options left are short sale or foreclosure if this is the case contact us immediately so we can help you with this situation before it’s too late.
Will a short sale hurt my credit?
Yes but we have seen many instances where sellers credit scores were 700-800 scores and only fell to 620 and 640. We have seen credit scores that were 700-800 scores then fell to below 570 but 6 months later was back above 680. Remember each situation is unique.
How much is my credit worth?
This you have to ask yourself. If your home is upside down 200,000 and you make 50,000 dollars a year is it worth it to wait for your home to come back if it ever does or is it better to take the hit for a couple of years. Another way to look at it is determine how much the difference your loan amount is over the value and then determine, is it worth having credit issues for a period of time and pay the higher payment or is it cost effective to save the money on lower rent and use the extra cash for what I used to use credit for? After all your credit will come back will the value of your house?
My house dropped in value and my payment has gone up or stayed the same!
There is a new phenomenon that has recently taken place across the nation. Many homeowners are making an economic decision to walk away or short selling their home, due to the fact the value has dropped beyond any hope of a foreseeable comeback. The term is “mortgage walkers” millions of owners are asking themselves many questions here are a few things to consider:
A) If my home dropped 50% and was worth 500,000 and now is 250,000 for me to break even my house would have to double in price from today is that likely?
B) There are many homes that have recently been purchased in my areas that are renting for half of my mortgage payment how can I compete with these homes?
C) If my house does double in value, wouldn’t it be better to have bought one for 250,000 and profit 250, 000 rather than just break even.
I won’t be able to get credit.
As many of you know even people with good credit have gotten their credit card rates raised and their balances lowered so the credit available to one is far less then what it was in 2008 and before. If you need a big ticket item like a car or other high priced good it would be wise to purchase before you consider a short sale. Presently many people are able to be back fairly close to the same credit level as they were before the short sale after approximately 2 years many even sooner!
What’s the average credit score?
We all know millions of people are having tough financial times and their credit scores are falling as this happens the average credit score falls too. Which means when compared to the whole country scores that used to be below average may become average or good. Not to mention the credit bureau are currently changing their system.
If I am going to short sale it’s probably better to do it sooner than later correct?
This is a personal decision but if millions of people are in default it would probably make the most sense to fall in with the mass rather than wait it out and find out later you need to short sale. You may have missed an opportunity to get head start on special programs.
Will the credit guidelines change?
The banks only make money if they lend right? If a high percentage of the population has hits on their credit don’t you think the banks and credit card companies will alter their lending guidelines to take into account the worst housing market in history, biggest stock market crash since 1929, the worst recession since the great depression and the highest unemployment since the great depression? Of course nobody knows for sure but common sense can give us an educated guess. Not to mention the government would probably mandate a few changes like they have in the past. Bank bailouts car bail outs Wall Street bail outs the consumer bailout has to come sooner or later you would think. If not just make sure you vote for the right state and national political representative.
We obviously can not answer all your questions especially since your situation is unique. That’s why Steve Hawks has set up an opportunity for you to have a FREE Consultation! That Means No Cost No Fees Ever!
We have seen too many consumers being scammed for thousands of dollars during a time when they need the money the most. Steve Hawks and NASSPro are helping to stamp out those firms trying to take advantage of unsuspecting home owners. NASSPro was founded on the principals of Honesty Experience and Results. Finally you will get the truth.
BOTTOM LINE FRIENDS REAL HELP HAS ARRIVED. Call Steve Hawks today.
Free Loan Modification & Short Sale Information
What are your options?
How long do you have?
Will the $700 Billion dollar bailout package help your home?
Can you sell your home before it finally forecloses?
Don’t be fooled by “experts” trying to take your money. We have negotiated millions of dollars off our clients loans. We will show you proof of our work! Contact Las Vegas leading consumer advocate Steve Hawks.
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You pay nothing, because your lender pays us to help you fix this problem! If we can’t solve your problem- we work for free! Be cautious of anyone wanting to charge anything- because they are charging you to do what can be done at no cost so they can make a profit on your trouble. If we are successful the banks pay our fees if not we don’t get paid that’s OUR GUARANTEE!!!
What To Do... Time is of the essence!
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