Many years ago my husband and I were facing financial difficulty and our region (Northeast) was suffering devastating economic problems. Back then, lenders offered no alternatives and we were forced to lose our home and declare bankruptcy. It took ten years to restore our credit and our dignity.
Today, there are alternatives available to homeowners. Some of your options are to refinance at a lower, fixed rate, forebearance, where your lender agrees to suspend a few months mortgage payments, or granting your lender the deed in lieu of foreclosure.
Another alternative is a Short Sale. A short sale is the sale of your home for less that the mortgage(s) you owe. The lender agrees to forgive part of the debt to enable you to sell your home.
If you are behind in your mortgage payments, or anticipate future problems meeting your financial obligations you may want to explore the possibility of a short sale.
Sheryl Thomson, Associate Broker
Short Sale Specialist
Exit Island & Beach Realty
Merritt Island, Florida
http://www.sherylthomson.com
TheThomsonRealEstateTeam@gmail.com
321-360-8051
Full Time Agent since 1997, Short Sale Specialist. Serving Merritt Island, Cocoa Beach, Cape Canaveral, Port St. John, Titusville, Satellite Beach, Melbourne, Suntree, Viera and Palm Bay.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
