Should I Short Sale My Home?
A national epidemic is looming. No One is safe. Selling your home through a short sale doesn't need to be a shameful, life-ruining experience. Sometimes short selling your mortgage simply makes smart economic sense, especially for homowners who find themselves "upside down".....that is, they owe more on their mortgage than their house is worth.
We are clearly in uncharted waters. The current housing crisis is different from all the previous housing recessions. It is well known that many financial institutions sold mortgages in a deceptive manner---for example, by approving people for loans they couldn't afford.
If you choose to short sell your home there will be damage to your credit. According to national experts, after a short sale, a person's credit could go down by 300 + or - points. With a foreclosure, the damage can be more and the credit is damaged for at least 4 years and could be on your records as long as 20 years.
For more information, contact us for your free booklet "Should I Sell My Home Short Sale?"
Jim and Ruth Jacobs
561-308-1189
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