Is your home a prudent investment?
Three Key Considerations
- If your property is giving you joy, keep it
- If your property is taking a toll, let it go
- If you’re stressed, make a phone call
Three Possibilities
I. Pursue Loan Modification (Frustration)
(Attempt to get lender to modify loan)
Effort: submissions, resubmissions, re-resubmissions … rejections, outbursts, fears
Prospect:
- forget principal reductions, they’re the rarest of rare
- Go to bed thinking of debt
- Wake up in the night thinking of debt
- Go to work thinking of debt …
Yield …. sleepless nights, high stress, increased illness potential, life without a lot of fun
II. Allow Foreclosure (passive)
(Await a certified Notice of Default letter and find Notice of Sale tacked on your front door)
Effort: answering morning, noon and night lender calls, ‘this call may be recorded, state your name, the last four of your social, your address …’
Prospect:
- Go to bed thinking of debt
- Wake up in the night thinking of debt
- Go to work thinking of debt …
Yield …. sleepless nights, potential illness, gray hair, weight gain, weight loss, impotence, mistakes, accidents … seven years of bad credit
III. Engage in a Short sale (Active)
(work as part of a team, create momentum in your life)
Effort: Actively creating a new beginning … this is not easy but you’ll have our support in preparing your home for showing, submission of paperwork (some resubmission of paperwork), negotiations, decision making and moving forward
Prospect:
- A positive, healing, collaborative effort
Yield …. forward momentum, a fresh start, living again with cash flow ease
Is your home a prudent investment?