Good day everybody I’m Josh Pomerleau with Short Sale Shift, Minnesota’s premiere short sale team, thanks for joining me today. I work with Keller Williams Realty in the Minneapolis area and weblog on daily basis from the short sale battlefield to move along helpful data to householders doing their homework on avoiding foreclosure. At this time I wanted to discuss a deed in lieu Of foreclosure and the advantages it might supply versus coming into in to foreclosure. Often instances after we meet with a client they really feel like a deed in lieu of foreclosure is their best choice, however relying in your mortgage this may not be true. Whereas I’m not a credit counselor or a credit expert I can inform you that from speaking with precise credit couselor’s they’ve warned towards a deed in lieu of foreclosure for a number of reasons. The first, and most essential, is that usually instances a deed in lieu of foreclosure will show up as a foreclosure on your credit report. Additionally, you probably have a second mortgage a deed in lieu of foreclosure might depart you still owing the full quantity on your second mortgage. For these reasons we generally take into account a short sale to be the best choice to avoiding foreclosure. In a short sale you’ll know all of your phrases up entrance and keep away from the stress and uncertainty of a deed in lieu of foreclosure. Banks are also highly motivated to get a short sale accepted with the intention to lower their losses which works within the householders favor more times than not. When you have any questions on short sales and how they work in the Minneapolis area please visit my website or contact me right this moment to get started. Our wonderful workforce of short sale specialists stay up for helping you get out from below your distressed property. Thank you for your time and have an important day.
Get more help from short sale Realtors, Josh and Sarah, at Short Sale Shift presented by the Short Sale Specialists of Minnesota