Should I Short Sale my home?

July 13, 2011 by The ME Law Firm

You are behind on your mortgage and the real estate agent is pushing you to short sale your house.  But should you?  Is it in your best interest?  How does a short sale affect you in the future?

Whenever you are choosing what to do with your largest asset (your home) and the safe haven for your family, you want to be sure you have looked at every angle.  Why does the real estate agent keep telling you that a short sale is your best option?  The truth, as I see it, is the real estate market has collapsed and the real estate agents need to sell your house in order to make an income.  But is it the best for you?

In reality, usually saving the home is the best option for the homeowner.  The homeowner does not have to move, does not have to rent, and does not have to be embarrassed by admitting that they lost their home.  A short sale can destroy a homeowner’s credit and can leave them paying higher interest on credit cards and other loans or even causing their credit cards to be cancelled.

Why would someone even do a short sale then? Well, realtors are good salesmen and they are desperate.  Many homeowners feel they are going to lose their home, so the realtor must be right.  Another reason is the homeowner feels an attorney would be too expensive.  At Myers & Eichelberger, P.L., we pride ourselves on being able to help individuals of all wealth levels be able to stay in their home or at the very least be able to get solid advice on their options.  We may not have “walk in Wednesdays”, but we do offer a free no-hassle consultation each and every day.

If you are feeling the pressure to give away your home by either a realtor or a bank, please call Myers & Eichelberger and learn about your options and what you can do possibly stay in your home.  You may not have to give your home away or even lose it, we will work hard to try  our best to find a solution that can help your situation. We may not be able to save every home, but we sure will try.  As we like to say around here, “Let ME help you”.

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