Every homeowner in Salt Lake should be educated on their options to avoid a foreclosure in Salt Lake. Many options are available to distressed homeowners however; short sales are becoming increasingly popular due to its abilities to assist homeowners in Salt Lake. Short sales offer cash back incentives, a credit score that suffers far less than one of a foreclosure in Salt Lake and the assistance of a Salt Lake short sale specialist at no cost.
Something each and every homeowner in Salt Lake worries about is how their credit will be affected once a short sale all is said and done. The truth is, a short sale itself may drop your credit score by 50 points, however it will the delinquent mortgage payments that do the most damage; each missed payment ranging around 30 points. When you compare a short sales versus a foreclosure you will see that a foreclosure may lower your credit score by 300+ points and sit on your credit report for up to ten years. A short sale in Salt Lake will typically recover within two years while usually displaying paid as negotiated or settled in full on your credit report. A foreclosure in Salt Lake also has the potential to hold you back from a certain career path because it is not uncommon for employers to do a credit check before making a decision.
One of the greatest benefits of a short sale is having an experienced Salt Lake short sale Realtor assisting you throughout your short sale. The goal of a Salt Lake short sale Realtor is to handle all negotiations on your behalf while working aggressively to get your home sold in Salt Lake. A highly qualified Salt Lake expert in short sales will be able to keep constant exceptional communication with all parties involved while offering their services to you, at no cost; your lender will typically pay all commission and closing costs. There is no reason to let your home in Salt Lake go into foreclosure when you have options available and professionals who dedicate their lives to helping distressed homeowner.
Linda is a Real Estate agent at Equity Real Estate (License No. 5482887-AB00), covering the greater Salt Lake area.
Helping Salt Lake home owners avoid foreclosure with a short sale.
Linda Bills specializes in short sales in Salt Lake .I am your Salt Lake Short Sale Specialist Realtor and Salt Lake loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.