Short Sales in South Jersey

Today there are 1 in 6 homes that are going into foreclosure. Not only is this the national average, but it also right here, locally in South Jersey. Many families have experienced a death or job loss that has caused their current financial situation to change in the last year forcing them to have difficulty paying the mortgage.

 

The important thing to remember, is that you are not alone. In South Jersey, you have many options if you currently owe more on your home that what it is worth. Many people are embarrassed, sad or anxious to be in this situation and are not sure where to turn or who to talk to.  The majority of these homes end up going into foreclosure when the home could have been saved as well as the homeowners credit rating.

While is it perfectly normal to feel upset about the situation, understand that everyone knows at least one person in South Jersey that is experiencing this type of hardship.  Of course, everyones situation is different and the sooner that you talk to a Certified Distressed Property Expert, the more options that you will have.

What is a Certified Distressed Property Expert?

A Certified Distressed Property Expert is a licensed realtor who has taken many hours of classes and tests in order to understand how to deal with properties and the owners of properties that are in difficult situations.  They are trained to handle the questions you have, work with your bank to see how to help you, and basically get you out of a bad situation.  You can find a Certified Distressed Property Expert by visiting, www.CDPE.com.  While visiting this site, you will be able to locate a trained CDPE agent in your area.

 

What Options do I have to Avoid Foreclosure?

There are many options that you have to avoid foreclosure in South Jersey.  As mentioned previously, the sooner you start talking to a Certified Distressed Property Expert, or CDPE, the better your chances at finding a good solution for your current situation.  For starters, you may consider a loan modification where you can live in your home, while working with your bank to change the terms and conditions of your current loan to make your home more affordable. Another option you may have is to sell your home through a short sale.  With this option, you are able to sell your home even though your home may be worth less that what you currently owe.  In working with a CDPE Agent, they can help you navigate the right resources for you and work with your bank to successfully get one approved for you, should you qualify.

What is the difference between a short sale and a foreclosure?

A short sale is basically anytime that a homeowners owes more that what the current market value is.  A homeowner qualifies for a short sale when they have experienced a financial hardship and can no longer afford the mortgage.  While the home is entering into the pre-foreclosure stage, the homeowner has many options before it actually foreclosing.  However, more than 75% of foreclosures were never listed for sale since most homeowners did not know it was an option.  By selling your home via short sale, you are able to save your credit.  Once you have been foreclosed on, it may be difficult to find another home or job as you will need to always disclose the foreclosure.  In South Jersey today, it is imperative to know your options and find a CDPE Agent to help you decide which is right for you.

For More information on South Jersey Short Sales, Click Here!

For More information on Finding a Local CDPE Agent, Click Here!

 

About Jessica JessicaHoltzman

has written 99 post in this blog.

Comments

comments