Dora C. Zuses

Coldwell Banker United Realtors

Listing & selling homes From Destin to Pensacola Florida

Proudly Delivering The American Dream of Home Ownership

A Short sale is a much better alternative to a foreclosure or a Deed in lieu of foreclosure, and will do less harm to your credit and future ability to borrow. A Foreclosure will remain on credit reports for about 5-7years.

The good news is that It will usually takes 5 years before new mortgages maybe obtained, with 7 year lending restrictions. But with a short sale, you maybe able to purchase a new home in about 2 years or so.

If you are experiencing mortgage distress you must then consider some of the alternatives first ~~~~

The first and most important step in helping your situation is to make contact with your lender and to do so right away, time is ticking see if there are any types of loan modifications that might help you in your situation.

Are you in a situation where you could rent out your property ?

Keep in mind your lender may ask you to turn in your deed instead of foreclosing ~~~~ just be sure you obtain a letter stating everything that you will be responsible for and that you will be released of any future obligations before you consider this option.

In addition it would be in your best interest to work with an agent that has actually completed a short sale transaction ~~~~ This is not something you want to waste your time while your agent learns the process.

Now if your still not sure just give me a call ( no obligations ) and lets chat about your situation.

I have successfully helped several families save there home from foreclosure and I'd like to help you do the same thing.

All the Best,

Dora

Dora C. Zuses Coldwell Banker United RealtorsListing & selling homes From Destin to Pensacola FloridaProudly Delivering The American Dream of Home Ownership

Dora C. Zuses

Coldwell Banker United Realtors

Listing & selling homes From Destin to Pensacola Florida

Proudly Delivering The American Dream of Home Ownership