Are You Facing Foreclosure?


FORECLOSURE vs SHORT SALE

 


ISSUE

FORECLOSURE

SHORT SALE


Fannie Mae Loan

A Homeowner that loses a home to Foreclosure is ineligible for a Fannie Mae Backed Mortgage for 5-7 Years.

A Homeowner who successfully negotiates and closes a Short Sale will be eligible for a Fannie Mae Backed Loan in 2 years.



Credit


Score may be Lowered anywhere from 250 to more than 300 Points. Typically Affecting Credit for 7 - 10 years.

Late Payments will Show. Mortgage is normally Reported as "paid as agreed", This can lower the score as little as 50 Pts. A Short Sale's effect can be as brief as 12-18 months.

Employment

Many Employers are requiring credit checks on all Job Applicants. A Foreclosure is one of the most Detrimental credit items a person can have and may challenge your ability to get hired.

A Short Sale May Not even be Reported on a Credit Report and is therefore Not a challenge to Employment.

Control And Dignity

Foreclosures Commonly Leave you with 2 options. Eviction or Abandonment. This includes Eviction Notices on your property and auto dialing collection calls. Foreclosures by law must be posted in your local newspaper. This is The Worst Option for Both Homeowner and Bank.

Delay Foreclosure, Sell Your Home on your Terms with NO COST TO YOU. The Marketing, and Processes to Sell a Short Sale Home is The Same as an Equity Sale.

* Foreclosure vs Short Sale Chart Provided through The Distressed Property Institute and should be used as a guide. The information presented in this website is for informational purposes only and should not be construed to be formal advice. Please consult a tax accountant and attorney before making any decisions regarding your house for legal advice and it's tax implications.

 

Ventura County Foreclosure Market

There are many homeowners in trouble which is shedding a very dim light on today’s housing market. Homeowners that are trying to modify or keep their homes, sometimes end up at least six months (or more) behind in their house payments, only to find out that the damage has been done and they no longer qualify for a modification. Buyers have an advantage in purchases: the housing inventory is at its peak, interest rates are substantially low, and the distressed market is enabling home buyers to get amazing homes at bargain prices. Buyers interested in a foreclosure property need to move fast! Search through current foreclosure listings in, Simi Valley, Moorpark, Thousand Oaks, Camarillo, Ventura County and Surrounding Areas contact me today to schedule an exclusive viewing.

 

 





Attention Homeowners

Are You Worried About Losing Your Home?

There are options for staying in your home. Free book shows you how. Visit site now.

( Yours FREE - Simply Click Image Above Or Link Below )

www.knowalloptions.com/1841



Page 1 2