Avoid Foreclosure and Save Your Credit
In a tough economy, turn to the Wasz Dukes Real Estate Team to help you avoid foreclosure and save your credit. Associates on our team are REALTORS® who have earned the prestigious Certified Distressed Property Expert® (CDPE) designation which means they have extensive training in solutions to help families avoid foreclosure and with short sales. This is invaluable expertise to offer at a time when an area is plagued by distressed homes in the foreclosure process.
Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, even though it is lower than what is owed on the property. With declining property values, this can save many people from foreclosure and even bankruptcy. Many lenders are willing to consider short sales because they are much less costly than foreclosures.
A foreclosure can be devastating for a homeowner’s credit rating and affect areas of their lives they might not have expected.
- Credit rating – Credit scores will be lowered by 300+ points affecting the ability to get a car, apartment, credit cards, etc., for years to come.
- Employment – Many employers run credit checks on prospective employees and foreclosure is one of the top items that will put a potential new hire in jeopardy.
- Security clearance – Military and government security clearance can be at risk.
- Future mortgage loans – A homeowner will always have to disclose they have had a foreclosure on any mortgage application.
Our goal is to educate and help families work through this most stressful and heartbreaking process. As Certified Distressed Property Expert® and REALTORS®, we can give you the expertise necessary to save your credit, relieve the uncertainty, and most of all, help your family.