Facing Foreclosure?

There are countless hardships that can turn home ownership from a joy into a burden. The loss of a job, medical bills, or an unexpected hike in monthly payments can all make a mortgage unaffordable. But ignoring the bills will not make them go away. It will only make things worse. 

There are options to keep you in your home such as a Repayment plan, which distributes your delinquent payments over a period of time or a loan modification, which results in an affordable monthly loan payment and reinstates the loan into a "current" status.   If these plans are not an option, a short sale may be another way to sell your home before it goes to foreclosure.  This process allows you to sell your home if you're not able to afford the payments even if the market value is less than the amount owned.  Typically foreclosure causes your credit to drop by 250 points, whereas a short sale 80 to 100, therefore a better option to maintain and re-establish your credit.  For additional information if you are facing foreclosure go to www.hopenow.com or www.makinghomeaffordable.com. 

If you are considering a short sale, please contact me denise@denisemreed.com or 207-942-6310 x215.  If you prefer to receive your home's value only, please provide information about your home at www.bangorhousevalues.com.   My first goal is to help homeowners stay in their homes!