Don't Let Time Run Out On You..
Consult A Certified Distressed Property Expert!
While negative credit items fall off of an individuals credit report after 7 years, the one question that is asked on every mortgage application is "Have you ever had a foreclosure?" This item has staying power and will follow a person around indefinitely. Here's just a few ways a foreclosure can affect an individual and as you can see these are also very important reasons to avoid a foreclosure.
1. The homeowner will always have to disclose they have had a foreclosure on any mortgage application and many job applications.
2. Credit scores will be lowered by 300+ points! (affecting ability to get a car, apartment, credit cards, etc!)
3. A foreclosure is the one credit report item that is almost impossible to have "repaired".
4. Military and government security clearance could be at risk with foreclosure.
5. Many employers run credit checks on prospective employees and foreclosure is one of the top items that will put a potential new hire jeopardy.
There are other important reasons to avoid foreclosure. Whats startling is 7 out of 10 individuals enter the foreclosure process without any visible intervention. Homeowners who are making payments now but realize there loan is going to recast to a higher payment or homeowners in the pre-foreclosure process need to speak with an educated agent as quickly as possible. For many homeowners foreclosure is not the only option however most do not get the opportunity to explore solutions. The reality is that many foreclosures should never happen and homeowners have options only they don't know where to turn.
I'd like to take a minute and define what a distressed property is.
1. Property that is on poor physical condition.
2. Property that is or will soon be in some stage of the foreclosure process.
3. Property owned by a person or persons who is or are experiencing a period of financial instability
4. Property on which the mortgages total an amount higher than the current value and an owner must sell.
If you fall into any of these four categories and are about to miss mortgage payments or are missing payments because of a financial hardship, your time is running out. Take this opportunity to protect your credit history and learn what steps you can take to avoid foreclosure. Due to our law enforcement backgrounds we understand how to protect your private information. Our confidential consultation will provide you with solutions, so you can make informed decisions to resolve your financial hardship.
Please contact Jennifer & Gary Ricco at Keller Williams VIP Properties. 661.290.3837. You can also Visit our website to learn more about us. http://www.riccosellshomes.com/.
Do you know of anyone who is thinking about moving to the Santa Clarita Valley? Let me show them this beautiful community among others here in the Southern California area. If you would like to search specifically for Stevenson Ranch homes for sale, or any other areas of Southern California go to: http://www.riccosellshomes.com/
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