In today’s economy, it is tough to decide what bills are the most important. If the decisions are to put food on the table or gas in the car to get to work versus paying the mortgage, then sometimes the more important decision wins. This may cause the mortgage payments to fall behind causing the lender to consider foreclosure
. However, lenders do not want to be homeowners, so many are considering short sales instead of the long foreclosure process.
If this is the place you find yourself in, the first option is to pay all late payments and keep up the mortgage. If this is not possible, then consider your option of approaching the lender about a short sale
. An owner of investment properties that are under performing, will have a hard time convincing the lender to accept a short sale. No matter what your financial situation causes you to consider, it is important to contact a knowledgeable Greater Atlanta real estate experts, The Safford Group
. They can help you determine what is right for you.
We at The Safford Group, REALTORS do our best to provide you with current and accurate information. However, we are not attorneys or accountants. Please consult with your attorney or CPA for further information and how this information may affect you personally.