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Before you move out, I have some important information to tell you. You should stay in the house for as long as possible.
In fact, the average length of time you can live for free is 461 days. That number is a statistic I've seen lots of people throw around.
I just tried to Google the official source, but it isn't coming up in several searches. I do know that number is true, based on all of the foreclosures I've seen recently.
Many lenders take around 12 months to file foreclosure. Then, the foreclosure process can last 6-12 months, if not longer.
Here is the bottom line: Don't move out as soon as you get behind. Stay in the house and save the money you would be spending on rent.
After the lender forecloses you will have to worry about them pursuing you for the money they lost. So, you've decided to walk away, but you want to reduce the side effects?
You can avoid a lot of the bad side effects with a short sale. First off, on 80-90% of all short sales, you won't have to pay any money back.
Second, you will be eligible to buy another house in 2-3 years (You have to wait 5-7 years after a foreclosure.)
When the home sells, your lender pays us a commission. The lenders know they get more money from a short sale than a foreclosure.
This is why most lenders are willing to pay all the other costs associated with the sale. Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an e-mail at rick@rickgiese.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me Rick Giese at Toll Free 1-800-274-5656
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification?
Visit My Short Sale Website http://www.miforeclosurehelp.com/
Visit My Short Sale or Stay Calculator Site http://www.mishortorstay.com
Rick Giese and his Short Sale Team Sell Tim's Lake St Clair Chase Mortgaged Home
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Thanks for reading this, Rick Giese.
Rick is a Real Estate Associate Broker at RE/MAX Advisors. Macomb, Oakland and Southern St Clair Counties Short Sales Realtor:
Phone: 1-800-274-5656. rick@rickgiese.com.
Rick Giese specializes in loan modification assistance and short sales in the Macomb, Oaklandand southern St Clair County Areas of Michigan. MacombLoan Modification Help, MacombShort Sale Help. Oakland Short Sale Help Macomb and OaklandCountyMIour services are offering sellers another option besides pre-foreclosure foreclosure or bankruptcy that can affect their credit for years. We are currently offering our services in the Richmond, Shelby Township, Macomb Township, Chesterfield Township, New Baltimore, Clinton Township, Sterling Heights, Mount Clemens (Mt Clemens) Fraser, Harrison Township, Warren, Roseville, St Clair Shores areas of Macomb County Michigan Madison Heights, Troy, Clawson, Royal Oak, Rochester, Rochester Hills, Berkley, Birmingham areas of Oakland County
IMPORTANT GOVERNMENT DISCLOSURE: You may stop doing business with us at any time. You may accept or reject the offer of mortgage assistance we obtain from your lender (or servicer). If you reject the offer, you will not have to pay us for our services. The above brokerage is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.
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