This Article is for Sellers of Distressed Properties

I'm Certified in Short Sales and Foreclosures (CDPE designation).   Short Sales are defined as a person owing more money than the property is worth and some kind of hardship in their life caused the person to not be able to pay for the property anymore.  Lenders most of the time will accept a lower payoff for the property to avoid foreclosure.  They don't want your property and most of the time will work with you as long as your trying to sell it. It cost lenders a great deal of money to foreclose on a property.  Also,  you do not have to be missing payments to start this process. List your property as soon as you can if this is your situation. 

Lenders will start the foreclosure process and we have to beat the clock so to speak.

SAVE YOUR CREDIT!!!

A foreclosure has implications toward your credit really for the rest of your life.  Even though most of the time a foreclosure falls off your credit score after 7 years, lenders still have on their application for credit have you ever had a foreclosure.  In the future, you would have to answer this question as "Yes" which in turn would effect your rate even after the 7 years.

SHORT SALE!!!

Short sale on your credit report most of the time would be reported as late payments, which would in turn fall off your report in about 2 years or so, and not effect your credit score that much assuming the rest of your bills stay current.

Foreclosures and Short Sales do have federal tax implications.  Please talk to you tax advisor to find out if this effects you.

Call Dale Palmer now to find out if you qualify.

954-895-8999