Real Estate

 

8 Crucial Reasons To Avoid Foreclosure

 

 

 

 

 

 

 

 

You lose your current home and any potential equity.
Foreclosure is usually deemed as a RED Light for future lenders to give you a loan.
You will be automatically classified as a high-risk borrower.
Any time you apply for a mortgage or real estate loan, you will be requested to disclose that you have previously had a foreclosure.
Provided the foreclosure sale does not pay off your loan balance; you could be held liable for the remaining unpaid balance by the mortgagee. Which means they will in all probability sue you.
Once the foreclosure is completed, the derogatory record can potentially stay on your credit reports for up to 10 years.
Even after you get your finances back in order, you may have a problem obtaining real estate loans in the future.
You will pay a much higher interest rates for future loans; rates and points that may make you cringe.


If you are facing foreclosure, walking away from your house and delinquent payments IS NOT the solution. Doing so will most likely bring you more financial difficulty, stress and legal wranglings; leaving you in a "financial prison" for many years to come!

 

It is imperative that you do everything possible halt this process.

 

Contact the REO Dr. and let us operate for you!

How to stop foreclosure

 


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