5 REASONS TO AVOID FORECLOSURE
1. The homeowner mayhave to disclose they have had a foreclosure on all mortgage applications.
2. Credit scores can be lowered by 300+ points affecting the ability to buy a car, apartment, credit cards…
3. A foreclosure is the one credit report item that is almost impossible to be repaired.
4. Military and government clearances could be at risk with a foreclosure.
5. Many employers run credit checks on prospective employees and a foreclosure is a major infraction on credit and might impact employment.
There are many lenders that will work with you on a short sale to avoid a foreclosure; we can even assist you in securing a rental property during this process or even a lease/purchase.
We are not attorneys or CPA's and advice everyone to seek the advice of a qualified attorney and CPA before they make a decision to either do a short sale or go into foreclosure.
