Every homeowner in a negative equity position or financial hardship should be educated about the options to them. Many options are available for distressed homeowners; however, short sales have become increasingly popular due to the many benefits to a homeowner when compared to other alternatives. Some such pros are cash back incentives, debt forgiveness, and a credit score and credit history that suffers far less than one of a foreclosure. One of the best benefits of a short sale is that there is no cost involved to a homeowner. As your Seattle short sale specialist, I’m here to offer you no cost assistance with this process.
Something each and every homeowner worries about is how their credit will be affected once a short sale is said and done. The truth is a short sale itself will drop your credit score by 50 points on average. It is the delinquent mortgage payments that do the most damage, as each missed payment takes your score down an average of around 30 points. When you compare a short sale to a foreclosure, you will see that a foreclosure may lower your credit score by 300+ points and sit on your credit report for up to ten years. After a short sale, your credit will typically recover within two years while usually displaying paid as negotiated or settled in full on your credit report. A foreclosure has the potential to hold you back from a certain career path because it is not uncommon for employers to do a credit check before making a decision.
One of the greatest benefits of a short sale is having an experienced Seattle short sale Realtor assisting you throughout your short sale. The goal of a short sale realtor is to handle all negotiations on your behalf while working aggressively to get your home sold. A Realtor expert in Seattle short sales will be able to keep constant and exceptional communication with all parties involved, all while offering their services to you, at no cost. All traditional fees and closing costs in a short sale are typically paid for by your lender. There is no reason to let your home in Seattle, Everett, Marysville, Bellingham go into foreclosure when you have options available and professionals who dedicate their lives to helping distressed homeowner.
Mike is a Real Estate agent at The GreatLife Team (License No. 24115), covering the greater Seattle area. I am your Everett, Marysville and Bellingham short sale specialist Realtor and am here to help. Give me a call today to discuss your situation in detail and how we may be able to be of service.
Helping Seattle home owners avoid foreclosure with a short sale.
Mike Farkas specializes in short sales in Seattle .I am your Seattle Short Sale Specialist Realtor and Seattle loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.