Hello everyone my name is Kelly Cook with the KC Real Estate Team, your short sale specialists in the Phoenix area, thanks for checking out my blog today. My team and I are devoted to helping Phoenix homeowners avoid foreclosure and I use my blog to provide valuable information on that exact topic. If you would like more information on the short sale process or are already considering a short sale take a minute to browse my website or contact me directly to discuss your options.
For my blog topic today I wanted to cover your different options for avoiding foreclosure and how they compare to a short sale. Aside from a short sale your other options for avoiding foreclosure include a loan modification, bankruptcy, and a deed in lieu of foreclosure. Personally I feel a short sale is the best option for any homeowner but it is always good to have options. A bankruptcy is pretty self explanatory and should only be used in certain circumstances since it will have a profound impact on your credit and ability to secure a loan in the future. Second is a deed in lieu of foreclosure which is performed much like a foreclosure but could have a decreased impact on your credit depending on your lender. The third and final alternative is a loan modification and this will serve to reduce your monthly payments and allow you to stay in your home.
While these three alternatives do have their advantages a short sale can be a better option in the long run. If you are behind on your mortgage and considering your options please give me a call today to discuss your unique situation. This is Kelly Cook with your Phoenix short sale specialists, thank you and have a great day.