We received a question from a concerned homeowner yesterday regarding what options she had with her home. She has been making all of her payments to date, but soon will not be able to make the full payments. Her house is not on the market as she feels that it isn’t worth what is financed on it. She didn’t know where to turn or what to do. These are common questions homeowners face.
She came to the right place. We were able to give her direction for what types of options she had. One option being to call her lender to see if they could negotiate some payment options for the next few month. Then, to put her house on the market for what is a realistic asking price and let the market decide if her house is worth market value or less instead of assuming, especially since the comps support a profitable asking price/margin. We then explain the short sale/preforclosure options to her as a last resort. These steps will help keep her credit in tact and will help her buy some time to get her house sold in a proper manner.
Thanks ”JJ” for the great question. We look forward to working with you!