Here’s Why You Need a Short Sale Instead of Going Through a Foreclosure

The Premier Group Can Help You to Stop Foreclosure Go Short Sale

The Premier Group can help you to stop foreclosure by going the short sale route.

Our team at The Premier Group/Keller Williams Realty has been able to help homeowners who were struggling with the dilemma of what to do about selling their home during these challenging economic times in Woodstock, Georgia and Cobb County Georgia. If you have been thinking about whether you should walk away and let the bank foreclose on your home or sell your home through a short sale program, the best decision in the long run is to go through the short sale program. There are several reasons why a short sale is better than a foreclosure.

  •  A foreclosure now will have an adverse impact on your future mortgage rates. If you are able to get a loan, you will end up paying a much higher interest rate.
  • A foreclosure is more difficult to have repaired on your credit report. You will be ineligible for a government insured loan for 5-7 years after your foreclosure. At the time of this writing, a short sale will allow you to be eligible for a government insured loan in 2 years.
  • Avoid a deficiency judgment from the lender. A deficiency judgment is where the bank sues the homeowner to collect any amount they do not recover at the time of sale.  A short sale enables an agreement to be reached with the bank to ensure there will not be a deficiency judgment filed once the transaction has been completed.

There are many homeowners in financial distress at this time. Making the best choice for now and for the future includes choosing to do a short sale rather than allowing your home to go into foreclosure. It will allow you to rebuild you financial life and reap the benefits more quickly.

At The Premier Group/Keller Williams  in Woodstock, GA, our experience ranges from consistently managing and closing short sale and distressed properties to marketing and selling luxury homes. When you decide to sell your home or purchase a home, don’t hesitate to contact The Premier Group. We are dedicated to being the most qualified specialists that you can turn to for all of your real estate needs.

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