Why Prevent Foreclosure?

A foreclosure on your home can have a lasting impact that many people do not look at before reviewing their options. While understanding your options is important, understanding foreclosure consequences is CRITICAL.

Just a few examples of why you must explore your options today:

You MUST disclose that you have had a foreclosure on any future mortgage application.
Your lender can seek a deficiency judgment against you and collect for any amount they do not recuperate at a bank sale and for an indefinite amount of time.
Employers have started to run credit reports on prospective employees to judge potential.
A foreclosure may cause a tax assessment. The majority of property owners don’t realize that they can cause a tax assessment when the home is lost in a foreclosure.
Compare the impact of a Short Sale and Foreclosure on the homeowner's credit

Short Sale	Foreclosure
How short Sale is reported will affect credit score After short sale, lender can report as: 1. Paid in Full: paid as agreed 2. Paid: settled 3. Paid: unrated If the owner is current with other payments, a short sale may only lower score by 50 points	Can Lower credit score by 200 points or more Foreclosure remains a public record and on credit history for 7 years Almost impossible to have "repaired"

The longer you wait the harder it is for us to help!

Understanding your options now could mean all the difference in the world. As CDPEs, we can help!

Fill in this form and we will contact you within 24 hours.
Or you may call us now at
(719) 785-4110

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