Don't Walk Away!

It is unbelievable to me that people are recommending home owners to walk away from and cut their losses! They should know that there is the short sale option or loan modifications available. A short sale allows sellers to purchase a home again in two years compared to seven years with a foreclosure!

I have direct access to Wachovia's Short Sale Negotiator and the process through Wachovia is almost SIMPLE! Wells Fargo is also working with Realtor/homeowners with a process that is reasonable. Almost all banks have been coming around and setting processes in place for short sales and will talk directly with Realtors with the home owner's permission.

It is ideal to start the process before you get behind on your payments. Falling one to two months behind can sometimes help negotiations and prove hardship, but it will hurt your credit. Once you fall behind 90 days most banks will start the foreclosure process. I wish to help home owners that are struggling to make their payments, wanting to avoid forclosure, or that are just upside down and want out! Walking away should be the very last step after exhausting all possibilities!