DO YOU OWE MORE ON YOUR HOME THAN IT’S WORTH
AND DON’T KNOW WHAT TO DO?
YOU HAVE SEVERAL OPTIONS
DO NOTHING:
Stay where you are and continue to make your payments as originally agreed. If your home is $100,000 underwater (the market value is less than the mortgage balance), it may take 10 years or more to get to a breakeven status; meanwhile, you will spend tens of thousands of dollars more than you would if you choose one of the following options.
LOAN MODIFICATION:
Stay where you are and negotiate a loan modification. This often requires the assistance of an attorney with fees of $2,000 & up. Lenders will rarely forgive any of your principal balance; however, they will often reduce the interest rate (temporarily), gradually increasing it over 5-9 years to an amount that is more affordable, set a portion aside to be paid later and extend the mortgage to 40 years. When you sell, any monies set aside will have to be paid to your lender.
SHORT SALE:
You may want to work with SunState Home Investment Realty, LLC to list your property. We can help you can create a strategy that will allow you to pay off all your other debt and have minimum affect on your credit rating. Best of all, our services are FREE to you!
FORECLOSURE:
Stop making payments and let your home go into foreclosure. This can have a serious negative impact on your credit rating for several years. In most cases, foreclosure can be avoided by listing your property for sale and doing a short sale.
BANKRUPTCY:
In some extreme cases, Bankruptcy may be considered. This should be considered only when all other options have been explored. The negative impact on your credit will last for several years and can impact your ability to get a job.
SunState Home Investment Realty, LLC is made up of Certified Distressed Property Experts (CDPE) in handling short sales and negotiating with lenders on your behalf, at NO COST TO YOU. We will help you make the best decision to move forward.
Call Today...SunState Can Help!
1-877-265-4447
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