Pacific Northwest Real Estate
Tough Decisions: Do I Pay My Mortgage, or Not?
The strained economy is forcing families to face very difficult decisions — when the money only goes so far, which bills are the most important? Forced to decide between paying the mortgage and buying groceries to feed the family, or putting gas in the gas tank to get to work, sometimes the more immediate need wins out. But the mortgage bills can quickly fall behind, causing homeowners to risk foreclosure.
One thing to keep in mind is that banks and other lenders do not want to own your home because of the many expenses involved. They may be willing to consider a short sale, rather than go through the time and hassle of a foreclosure proceeding.
If I'm facing potential foreclosure on my home . . . what are my options?
If you’re currently at risk of foreclosure, the best thing you can do is to bring your mortgage current by paying all late payments. If this isn’t an option, talking with your lender about a possible short sale is a much more attractive option than going through foreclosure — it’s easier on your family, and easier on your credit.
It’s important to take action immediately so that a difficult situation doesn’t become worse. We can help! Susan Stecher’s team of Pacific Northwest Real Estate professionals can help you figure out the best option for you and your family. Don’t wait — call our office today.
***Susan Stecher is a Certified Distressed Property Expert - CDPE, Specialized Service Provider – FSSR, in Foreclosures, Short Sales and Bank-Owned Properties, a Short Sale & Foreclosure Resource – SFR and a Certified Short-Sale Professional – CSP. Call today for a confidential consultation to determine what your best options are to avoid foreclosure — call direct at (360) 319-4939, or toll-free at (888) 319-4939.