Stop Stress With a Short Sale
Financial problems can cause you a great deal of stress. You struggle to make the payments, or you fall behind on your mortgage, and the lenders send you scary letters. You need to know your choices. Foreclosure is one choice, but it is frequently not the best choice because it hurts your credit and makes it nearly impossible to get a good loan for 5 years, not to mention the effect on your family when you are evicted from the house by the authorities. Loan modifications are available using the Home Affordable Modification Program (HAMP). If you have only one loan, you can give the home to the lender using a deed in lieu of foreclosure. There are some disadvantages for your credit and finances to the deed in lieu that are discussed in detail in a post on this website. Many people find that a short sale will get them out of the house gracefully with the least damage to their credit.
To get the information you need to decide what is best for you, click on the Read First tab on the top of this page. You can also search in the search box at the upper right corner of this page by putting in the word or phrase that describes what you are looking for. If you cannot find what you need, send an email to tim@TimBurrell.com so we can help you get rid of your stress.