The mortgage crisis our nation is facing has become a local issue for many homeowners in Bellevue, Seattle and surrounding areas.
Due to things like the rising cost of living, income not keeping up with adjustable rate mortgages, loss of employment, rising cost of living, divorce, death, medical bills and homes not appreciating as expected, many homeowners are experiencing difficulty paying their mortgages. As reported by the Puget Sound Business Journal in December, the greater Seattle area is among the top 10 metro markets nationwide for troubled real estate assets. People are losing their homes to bank foreclosures without any professional intervention whatsoever. The long-term ramifications of a home sold in a bank foreclosure is devastating to families and can be avoided.
If you are struggling to make mortgage payments please give us a call at 425-454-4141 or fill out an information form so we can present you with alternatives to foreclosure.
Three of our agents are Certified Distressed Property Experts© (CDPEs), and they have the expertise necessary to help you save your credit and relieve the uncertainty. Let us help you explore the alternatives.
Foreclosures are devastating to your credit.
A foreclosure will leave you with the worst credit rating you can possibly have. There is nothing more damaging to your credit than a foreclosure. Having gone through a foreclosure will reduce you credit score about 300 points and stay on your credit report for 10 years or more. Click here to read more about the negative effects of a foreclosure. If you have both a low credit score, and a foreclosure on your credit report, you will have a very hard time getting approved for new credit to purchase a car, receive a student loan, or even to be accepted as a tenant. A foreclosure on your credit report could even keep you from an employment opportunity in the future. Many job applications ask if you have ever had a foreclosure. All mortgage applications ask that question. You will forever have to answer YES to that question. If an employer -- for instance military, police, airport, cashiers and banking -- require a security clearance, you could lose your security clearance with a foreclosure on your record. The devastation of losing your home to a bank foreclosure will keep rearing it's head for years to come, even after the deal is complete.
Here are 11 alternatives to protect you and your family from foreclosure.
Call Brazen Sotheby's International Realty today at 425-454-4141, or fill out and submit the information form so we can contact your for a completely confidential consultation.
