Thursday, 7th of January 2010 at 09:07:04 AMThere may come a time when you are faced with a crisis, something that puts you and your family at an uncomfortable financial risk. This could be something from job related to medical related, but none the less, you are losing sleep over the future. In the past you may have relied on your home to provide some extra income in a time of need. But today, it won’t help. In fact, your home has become a large source of the stress and burden.
At this point you start to realize that you don’t know or understand a short sale as much as you thought. You may know friends and family that are talking about it, but do they really know what is going on? You call an agent and if you get me, I’ll tell you what a short sale is, but I’ll stop short of advising you on weather you should do one or not. I’m a real estate agent, I’ve been trained and licensed to help in the purchase or sale of real estate. Part of that knowledge is what short sales are. I’ve also been trained to do short sales, which means that I set expectations with all the parties involved in the short sale. I’ve never been trained or claim knowledge in credit counseling.
Since you are already in a stressful situation, I highly recommend to those that are interested in doing a short sale or foreclosure to contact a FHA Credit Counselor, a Real Estate Attorney and a Tax Attorney to understand the pros and cons of a short sale. I’ve had a few customers take my advise and all of them have stated that they feel much better about their situation and the decision that they made. Everyone of them have stated it was the best money they spent. The FHA Credit Counselor is often free, the Real Estate Attorney is worth the peace of mind you will get and the Tax Attorney will give you confidence with your future. All worth the sound sleep you can get after talking to them.
While your emotions about the situation will probably not go away soon, at least you will find some comfort in knowing the whole picture and making a sound decision for the future of your and your family.
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