Short Sale Hardships

Short Sale Hardships There are so many ways that financial hardships can lead a homeowner to fall behind in making their monthly mortgage payments on time. A job loss, divorce, medical bills, reduced work hours, death and adjustable mortgages with a high rate are examples of how homeowners can become distressed in today’s volatile economy.

Every state and bank has a different process but with experience comes knowledge. As a central Connecticut licensed Realtor who believes in constantly educating myself, I have learned a variety of ways to help distressed homeowners.

If you’re experiencing any kind of financial crisis and have fallen behind in your mortgage payments, the feeling that there is no other option but to lose your home can be overwhelming.

What you need now is help: guidance from a central Connecticut real estate professional who understands the process and the difficult choices you’re facing. You do not have to go it alone. There are solutions and there is help. Patience is key but time is of the essence. The worst thing you can do is to stick your head in the sand and wait for that foreclosure notice or go into complete denial. Take Action!

As a Certified Distressed Property Expert –CDPE, I specialize in helping homeowners in the central Connecticut area avoid foreclosure and I can provide you with information on the alternatives. I will explain the effects that foreclosure can have on your credit and offer other options that may be available to you such as a short sale.

The time to seek help is now and I’m here for you. Your next steps are simple. Contact me today and I will speak with you regarding your unique situation and how best to save your home from foreclosure. I can provide you with a seller checklist of information I need to help you navigate the process and negotiate with the bank to lessen the long term consequences that come with a distressed property.

Buying a Foreclosure

Buying a Foreclosure:

If you’re on a strict budget or looking out for a good investment property, foreclosed homes can be an appealing choice. But, there are a few steps you can take to protect the investment and avoid future issues.

1. View the Home in Person: Take a close look and take a tally of how much you will need to spend on improvements. The landscape and outward appearance is a telltale sign of how long the house has been vacant.

2. Winter Vacancy: If the house has been vacant during the winter months, ensure that it’s been winterized to avoid tens of thousands in plumbing repairs.

3. Neighborhood Walk: Walk around the neighborhood to determine its “health”. If you’re planning on flipping it, do their homework by looking for a safe established or “up & coming” neighborhood with similar homes on the street in well kept condition.

4. Hire an Inspector: An inspector who is looking out for your interests has a trained eye which can point out latent defects not visible to the naked eye. I would strongly suggest a termite inspection as well. The inspector’s charge of about $400-500. is well worth the cost as knowledge is power. It could save you thousands in the short term.

5. Realtor on Your Side: If you have your trusted realtor by your side, she can provide you with an up to date market analysis. Having local market data in hand should help you make an informed decision.

Go into buying a foreclosure with your eyes wide open.

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