What Do You Do When Home Modification Doesn’t Work?
Posted on | April 7, 2010 | No Comments
When a home modification doesn’t work many people think that the next step is foreclosure but that is not the way to go is you can avoid it. There are more and more Realtors who are specializing in distressed properties and short sales these days than ever before. However, you need to be very careful who you trust as Realtors who have their CDPE (Certified Distressed Property Expert) designation will never ask you to pay for anything upfront or on the backend of the sale.
These Realtors know the new HAFA (Home Affordable Foreclosure Alternatives) law that went into effect on April 5th, 2010 and can help you discover if you are a candidate for a HAFA short sale, can walk through a short sale quicker than most and also see if you will be able to get some moving assistance to help you get relocated.
The main reason to look into a short sale over letting your property go into foreclosure has to do with your credit. One of the best resources is this Short Sale VS Foreclosure white paper. It has a lot of good information about the differences each has on your overall credit rating and the time frames associated with each.
Comments
Leave a Reply