I have a question for you?
Why would you not try to sell your home prior to it going to foreclosure?
I understand fully what homeowners are dealing with when it comes to this tough subject of losing their home. However, I have found that it is always better to sell your home rather than having a foreclosure on your credit report.
And there are many things to consider in this process. For instance, if you owe more than the home is worth, the bank will potentially lower their payoff to enable you to sell the home. This is far easier on your credit than a foreclosure.
I heard a story the other day that a person in Florida with perfect credit purchased an investment property for $600,000. The property is now worth $400,000 and he was able to get the bank to reduce the payoff by that much. The best fact in this story is that the person who sold the home was not even behind on his mortgage payment.
If you fear that you may be headed towards financial distress and would like to make a move, contact me immediately for a consultation.
Joshua McKnight Cell 267-275-5774 Office 215-657-8100
WWW.JOSHMCKNIGHT.COM God, Family, Business Bringing the best of service to every transaction.
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