Are you behind in your mortgage for reasons beyond your control?
The current economy has caused many to lose jobs or settle for reduced salaries and benefits. As a result, many families are struggling to pay their mortgages, credit cards, personal and student loans, and basic living expenses. Judge Realty understands that responsible families want to meet their financial obligations but need help getting back on track. We are dedicated to providing our clients the best solutions to make sound decision for their family.
A common question is what is the difference between a short sale and a foreclosure?
Short Sale vs Foreclosure:
Short sale is is when a lender agrees to allow a homeowner to sell his home at a lesser price than what is owed. The banks are willing to make this arrangement to avoid the costly of a foreclosure procedure. Short sale may be an option for homeowners who's financial recovery is long termed.
Before deciding to proceed with a short sale, please make sure you understand your rights, lender requirements, and the possible impact it may have on your credit, taxes, and future obligations.
Foreclosure is a court order that allows the lender to gain complete ownership of a property from a delinquent homeowner. Most times lenders prefer working out a structured payment plan, short sale, or loan modification but you must meet certain requirements.
Don’t allow your temporary financial situation burden your future. You have options and we can help.