Foreclosure without Equity

Information on Short Sales

If your home does not have equity, there are many benefits to a Short Sale that still make this a better option for homeowners over and above loan modifications and filing bankruptcy. To start, a Short Sale is the best way to protect yourself from having a foreclosure on your record and ruining your credit score. Also, a Short Sale gives you a Waiver of Deficiency, which means that you will NEVER have to pay on your mortgage ever again!

Short Sales

1.

A short sale only lowers your credit by 50-70 points on average.

2.

Full Waiver of deficiency. Bank will not pursue loan shortage

3.

Affect credit for only 12-18 months. Can purchase a new home immediately

4.

Loan applications will not ask questions about a shortsale. You can report your home as sold.

5.

A short sale will not affect future employment or job opportunities for you.

6.

When you enter a short sale, you will have more time in your home while finalizing the process.

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South Florida-based foreclosure and loan modification experts with over 10+ years of helping families get out of foreclosure.

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